UPDATE: Jefferies Initiates Restoration Hardware at Buy on Growth Story
In a report published on Monday, Jefferies analyst John Marrin initiated coverage on Restoration Hardware (NYSE: RH) with a Buy rating and a price target of $68.
In the report, Jefferies stated, "We see three reasons investors should own this name: 1) this is the best growth story in retail - we forecast a five-year sales CAGR of 20%; 2) easy opportunities for operating margin expansion; and 3) a unique sourcing model that should keep RH on the home fashion forefront and drive market-share gains."
Restoration Hardware closed on Monday at $55.99.
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