RH price target lowered to $165 from $185 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on RH (RH) to $165 from $185 and keeps a Market Perform rating on the shares. While traffic to stores slowed down in November and December before picking up in January, the firm remains positive on RH’s product transformation and new brand extension planned for Spring 2026, the analyst tells investors. Telsey, however, remains concerned about the impact from incremental tariffs and ongoing investment spending as it scales the international business.