Analysts Slash Price Target On This Home Furnishing Retailer - Read Why - RH (NYSE:RH)

Telsey Advisory Group analyst lowered the price target on RH RH to $400 (35% upside) from $510 and maintained an Outperform rating on the shares.
The analyst said there was a broader deceleration in demand for home furnishings but has been more evident at low and mid-tier priced retailers.
The analyst believes RH has had greater inventory constraints with more of its products sourced from China and Vietnam than peers, which has delayed product launches like RH Contemporary.
The analyst opined that the company could face choppy days in the near term with headwinds like supply chain constraints and delayed product launches.
BofA analyst lowered the price target of RH to $550 (86% upside) from $650 and maintained a Buy rating on the shares.
Price Action: RH shares are trading higher by 1.36% at $294.99 on the last check Tuesday.

Analysts Slash Price Target On This Home Furnishing Retailer - Read Why