Goldman Boosts PT on Restoration Hardware (RH)
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Price: $142.16 -6.23%
Rating Summary:
9 Buy, 21 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
9 Buy, 21 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Goldman Sachs today maintained a Neutral rating on Restoration Hardware (NYSE: RH) and raised its price target to $59.00 (from $52.00). Yesterday Restoration Hardware reported Q1 results and guidance that topped estimates.
Analyst Matthew J. Fassler thinks a number of factors are likely to move the shares higher.
"Importantly, gross margin exceeded our forecast on better fixed-cost leverage . . . RH spoke to a surge in demand in the past two weeks, easing concerns about a pause in sales due to a change in catalog mailings vs. a year ago . . . The new store program is performing well, with big sales gains in converted 'Design Galleries,' and management stressing another layer of growth ahead as a mall anchor, with appealing economics . . . The firm announced two more new sales," said Fassler.
For an analyst ratings summary and ratings history on Restoration Hardware (NYSE: RH) click here. For more ratings news on Restoration Hardware click here.
Shares of Restoration Hardware closed at $58.96 yesterday.
Analyst Matthew J. Fassler thinks a number of factors are likely to move the shares higher.
"Importantly, gross margin exceeded our forecast on better fixed-cost leverage . . . RH spoke to a surge in demand in the past two weeks, easing concerns about a pause in sales due to a change in catalog mailings vs. a year ago . . . The new store program is performing well, with big sales gains in converted 'Design Galleries,' and management stressing another layer of growth ahead as a mall anchor, with appealing economics . . . The firm announced two more new sales," said Fassler.
For an analyst ratings summary and ratings history on Restoration Hardware (NYSE: RH) click here. For more ratings news on Restoration Hardware click here.
Shares of Restoration Hardware closed at $58.96 yesterday.
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