Wells Fargo Securities Believes Analyst Day Highlights Good Things For Restoration Hardware
In a report published Wednesday, Wells Fargo Securities analyst Maynard Um reiterated a Market Perform rating on Restoration Hardware (NYSE: RH).
In the report, Wells Fargo Securities noted, “While we believe NetApp has a strong position in the storage market, core product growth declined low-single-digit percent in FY13. FY14 comps should be easier, but macro remains uncertain, and while we believe macro is likely the bigger issue, we think investor sentiment is one of ‘reasonable doubt' relative to competition and, hence, we do not expect multiple expansion until there is greater clarity.”
Restoration Hardware closed on Tuesday at $36.09.
Latest Ratings for RH
|Sep 2014||CRT Capital||Initiates Coverage on||Buy|
|Sep 2014||Wolfe Research||Upgrades||Underperform||Peer Perform|
|Jul 2014||BB&T Capital||Downgrades||Buy||Hold|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.