RH price target lowered to $390 from $450 at Stifel

Stifel lowered the firm’s price target on RH (RH) to $390 from $450 and keeps a Buy rating on the shares. Following Q4 earnings, the firm has “modestly” reduced its fundamental outlook, balancing a slightly weaker revenue outlook against stronger profitability, while not incorporating Liberation Day tariffs that it estimates would create a $362M EBITDA headwind absent further mitigation, the analyst tells investors. The firm views the initial tariff announcement as “a Maximalist opening salvo,” but believes the 42% decline post earnings “effectively prices the worst-case scenario,” the analyst tells investors.