BB&T Capital Reiterates Buy on Restoration Hardware (RH) Following 2Q15
BB&T Capital reiterated a Buy rating and $120.00 price target on Restoration Hardware (NYSE: RH) following the company's 2Q15 earnings release. Net revenues increased 16.9% to $507M. Diluted EPS rose 26.9% to $0.85, beating consensus by $0.01.
Analyst Anthony Chukumba commented, "Restoration Hardware's (RH) better-than-expected Q2'15 results provide further evidence the company's attractive long-term story remains on track in our opinion. While management's Q3'15 guidance was worse than we expected, we believe this is simply a function of the timing of the next generation design gallery openings— particularly given the fact RH actually increased its full-year forecast. We reiterate our Buy rating and $120 price target."
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Shares of Restoration Hardware closed at $91.06 yesterday.