Arhaus price target lowered to $10 from $12 at Piper Sandler

Piper Sandler lowered the firm’s price target on Arhaus (ARHS) to $10 from $12 and keeps a Neutral rating on the shares. The firm’s Q1 furniture retailer survey showed Q1 written sales at -1% to -2% for the quarter, with January and March both positive ear-over-year and February notably negative year-over-year. March was likely helped by the Easter shift into April. But the Furniture industry appears to be holding in year-to-date, Piper adds.