Piper Jaffray Raises Price Target Restoration Hardware (RH) Following FQ1 Results
Piper Jaffray reiterates a Neutral rating on Restoration Hardware (NYSE: RH), and raised the price target to $91.00 (from $89.00), following FQ1 results. RH reported EPS of $0.23 versus the consensus estimate of $0.20. RH expects to report EPS in the range of $0.80 to $0.84.
Analyst Neely Tamminga commented, "On the heels of RH's earnings release for FQ1, we are slightly adjusting our financial model to reflect management's updated guidance. Too, management reiterated their longer-term financial road map in which they believe they can achieve $4-$5B in revenue and a mid-teens% operating margin rate over time. We maintain a Neutral rating in view of the shares trading near our price target."
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Shares of Restoration Hardware closed at $94.83 yesterday.