UPDATE: Loop Capital Downgrades Restoration Hardware (RH) to Hold 'on Valuation, Not Fundamentals'
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(Updated - November 21, 2019 6:06 AM EST)
(update PT, expand comment)
Loop Capital analyst Anthony Chukumba downgraded Restoration Hardware (NYSE: RH) from Buy to Hold, PT $190.00.
- Steps aside citing the valuation.
The analyst comments "Our downgrade is based on RH's valuation, as opposed to a more bearish view of the company's fundamentals. RH remains one of the most compelling small cap fundamental growth stories in the specialty hardlines retailing sector in our opinion. That said, with the stock trading at 14.8x our F2020 diluted EPS estimate, we believe upside potential and downside risk are fairly balanced at current levels."
Shares of Restoration Hardware closed at $188.88 yesterday.
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