Citi analyst Steven Zaccone lowered the firm’s price target on RH (RH) to $437 from $556 and keeps a Buy rating on the shares ahead of the Q4 report. The firm sees a Q4 sales beat based on steady high-frequency data trends and strong holiday results from peers. However, it believes RH’s Q4 earnings will come in slightly below Street estimates, saying the pricing environment remains competitive. For 2025, Citi lowered revenue estimates to reflect the likelihood of slowing demand from macro concerns.
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