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UPDATE: Bank of America Initiates Restoration Hardware at Neutral

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Bank of America initiated coverage on Restoration Hardware (NYSE: RH) with a Neutral rating and a $39 price objective.

Bank of America said, "We forecast a 20% long-term EPS growth rate, which is ahead of peers and should support a high multiple for the stock. We expect sales growth to be driven by outsized store comps from the rollout of new categories. RH's unique real estate strategy will drive sales productivity over the long term while its direct business benefits from effective catalog distribution, in our view. The stock's valuation reflects strong growth at 28x our F2013 EPS est. of $1.35 versus the peer group at 19x."

Restoration Hardware closed at $37.99 on Monday.

Latest Ratings for RH

DateFirmActionFromTo
Sep 2014CRT CapitalInitiates Coverage onBuy
Sep 2014Wolfe ResearchUpgradesUnderperformPeer Perform
Jul 2014BB&T CapitalDowngradesBuyHold

View More Analyst Ratings for RH
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Initiation Intraday Update Analyst Ratings

 

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