RH's Q4 Results Were 'Rough,' Analyst Is Optimistic: 'Sales Growth Expected To Accelerate'
Portfolio Pulse from Priya Nigam
RH (NYSE:RH) reported weaker-than-expected Q4 results with a 4.4% decline in revenues, attributed to severe weather and shipping delays. Despite this, JPMorgan analyst Christopher Horvers is optimistic, maintaining an Overweight rating and raising the price target from $329 to $345. He expects FY24 sales growth to accelerate, emphasizing the importance of RH delivering on sales and margins amid new store openings and European launches.
March 28, 2024 | 4:37 pm
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RH reported weaker-than-expected Q4 results but received an optimistic outlook from JPMorgan, with a raised price target from $329 to $345.
The optimism from a major analyst like JPMorgan, despite the Q4 miss, suggests confidence in RH's future performance. The raised price target reflects expectations of sales growth acceleration, which could positively influence investor sentiment and stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100