Goldman Sachs Downgrades Restoration Hardware (RH) to Sell

Goldman Sachs analyst Kate McShane downgraded Restoration Hardware (NYSE: RH) from Neutral to Sell with a price target of $215.00 (from $227.00).

The analyst comments "We are downgrading RH to Sell from Neutral on: 1) our view that sales will likely remain pressured, given purchases are discretionary and larger ticket, the likely pull-forward of demand and highly promotional environment; 2) RH faces difficult y/y compares (see exhibit # below), including its recent margin expansion; and 3) potential downside to current valuation."

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 $274.48 yesterday.

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