Arhaus price target lowered to $9 from $11 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on Arhaus (ARHS) to $9 from $11 and keeps a Market Perform rating on the shares. The company experienced “choppy” demand with unfavorable weather in January and early February as well as the onset of the Iran war in March, the analyst tells investors. While the company is well-positioned to gain share as housing demand improves, the firm remains concerned about volatility in demand from month to month as well as the use of promotions to drive sales and the soft housing market.