Restoration Hardware (RH) PT Cut to $47 at Cowen

Cowen analyst Oliver Chen lowered his price target on Restoration Hardware (NYSE: RH) to $47.00 (from $64.00) following Q4 miss and red flags for 2016. The firm maintained a Market Perform rating.

Chen commented, "As we cautioned with our recent downgrade to Market Perform (here), biz. conditions have become increasingly more difficult for RH resulting in a significant 4Q miss: preliminary EPS of 99c (vs. prior guide $1.37-1.42) on sales +11% y/y (vs. prior +21-23%). We reduce EPS for FY16 as we believe weak demand likely to persist. Lower PT to $47 (was $64) on ~14x '17 EPS."

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 $51.92 yesterday.

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