RH downgraded to Hold from Buy at Stifel

Stifel downgraded RH (RH) to Hold from Buy with a price target of $165, down from $320. The company reduced its fiscal 2025 revenue and EBITDA guidance for the second time this year with results implying slowing demand through the year, the analyst tells investors in a research note. Stifel “meaningfully reduced” its fiscal 2026 and 2027 estimates to reflect weaker demand and sees difficulty approaching its updated numbers with confidence. RH’s multiple is unlikely to materially improve absent consistent tangible momentum, contends the firm. It sees no positive catalyst for the stock.