RH price target raised to $275 from $250 at Wells Fargo

Wells Fargo analyst Zachary Fadem raised the firm’s price target on RH (RH) to $275 from $250 and keeps an Overweight rating on the shares. The firm expect RH shares sharply higher on Friday. Sentiment was weak, but Q1 results were better vs feared, free cash flow inflected, and the Q2 outlook lands in-line despite a volatile backdrop, Wells adds, saying yhis print warrants relief.