Arhaus Inc (ARHS) PT Lowered to $16 at Jefferies

Jefferies analyst Jonathan Matuszewski lowered the price target on Arhaus Inc (NASDAQ: ARHS) to $16.00 (from $17.00) while maintaining a Buy rating.

The analyst commented, "Here's what matters: Management is establishing a public company track record of delivering above what they guide, despite a backdrop of unprecedented uncertainty. With cancellation rates below pre-COVID and DC construction on track, demand growth will likely convert into recognized revenue ahead. In a climate of uncertainty, we think investors should pay a premium for a brand with $265M in order backlog given it de-risks guidance. Reiterate Buy."

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