Deutsche Bank's Adam Sindler reiterated Restoration Hardware Holding Inc (NYSE: RH)'s Buy rating, maintaining a price objective of $50.00.
The analyst dispelled warnings from a negative company guidance on future profit margins, claiming the 3 percent decrease is only caused by cyclical factors. "While we expect results to remain choppy over the next several quarters really over every line item, we continue to believe that the issues are cyclical in nature and recommend being Buyers of RH," stated Sindler.
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Sindler said to watch out for Modern inventory flow, regional sales variances, and "any color on a Waterworks acquisition" as future price movers for the stock. The analyst believed the Waterworks deal could provide Restoration Hardware with the "core competency of tiles, faucets, fittings and accessories that RH currently does not have which opens the addressable market to kitchen and bath – two rooms with a significant share of overall home spend."
Restoration Hardware closed at $35.08, up 3 percent.