Guggenheim Reiterates 'Best Idea' on Restoration Hardware (RH) After HQ Visit

Guggenheim analyst Steven Forbes reiterated its Best Idea destination on Restoration Hardware (NYSE: RH) while maintaining a Buy rating and $800.00 price target after hosting tour last week of a) RH Marin—The Gallery at the Village and b) the company's Center of Innovation and Product Leadership in Corte Madera, CA with CEO Gary Friedman and CFO Jack Preston.

The analyst commented, "Bottom line, not only did we come away with increased confidence in our 2H 2021-2022 outlooks—in part, due to improved visibility into the company's two main market share drivers (product innovation and real estate transformation)—but the in-person visualization of the company's initiatives helps to establish greater appreciation for the longer-term potential of RH's luxury brand platform. When combined with the benefits of RH's high-ROI operating model and the fact that RH is operating with elevated financial flexibility, we reiterate our $800 price target and "Best Idea" designation."

For an analyst ratings summary and ratings history on Restoration Hardware click here. For more ratings news on Restoration Hardware click here.

Shares of Restoration Hardware closed at $708.33 yesterday.

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