UPDATE: Goldman Sachs Raises PT to $35 on Restoration Hardware Following Q3 Results
Goldman Sachs reiterated its Neutral rating on Restoration Hardware (NYSE: RH) while raising its price target from $34 to $35.
Goldman Sachs commented, "RH delivered 3Q2012 results that slightly exceeded our forecasts, with better retail SSS and tight cost controls more than offsetting softer-than-expected gross margin trends. Adjusted EPS of $0.07 exceeded our estimate of $0.03 and consensus of $0.04. … We continue to believe that RH is undergoing a three-pronged transformation, in merchandising (up-market and greater breadth); multichannel (channel agnostic, rapid online growth); and, real estate (closing small stores, opening fewer, larger units)."
Restoration Hardware closed at $26.69 on Wednesday.
Latest Ratings for RH
|Jun 2016||Raymond James||Downgrades||Strong Buy||Market Perform|
|Jun 2016||Longbow Research||Downgrades||Buy||Neutral|
|Jun 2016||Deutsche Bank||Downgrades||Buy||Hold|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.