Goldman Sachs Downgrades Restoration Hardware (RH) to Buy Citing Deteriorating Risk Profile
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Goldman Sachs downgraded Restoration Hardware (NYSE: RH) from Conviction Buy to Buy, keeps a price target of $40.00.
Analyst Matthew Fassler comments "We remove RH from the America’s Conviction List but maintain our Buy rating. Our Buy rating is based on the company’s franchise value and an expected earnings recovery in 2017. The company’s inconsistent execution, our positioning in line with consensus (vs. above), potential tax exposure and smaller concerns about mobile and the member program suggest a level of risk that leads us to remove the stock from the Conviction List. We maintain our 12-month price target of $40. Since we added RH to the Conviction List on August 18, 2016, the stock is has fallen 2% vs. S&P 500 +4% and XRT -3%, reflecting a 4Q guide-down."
Shares of Restoration Hardware closed at $30.19 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades, Hot Downgrades
Related EntitiesGoldman Sachs Conviction Buy List, Goldman Sachs, Standard & Poor's, Earnings
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