RH price target lowered to $420 from $500 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on RH (RH) to $420 from $500 and keeps an Outperform rating on the shares. When the company releases its Q4 results, the firm will be looking for a continuation of the DD growth in demand, operating margin expansion in 2025, a higher cash balance, an update on store opening plans, and details on the “new vertical” RH plans to launch in Fall of 2025, the analyst tells investors.