Citi Upgrades Restoration Hardware (RH) to Buy
Citi upgraded Restoration Hardware (NYSE: RH) from Neutral to Buy with a price target of $111.00 (from $76.00).
Analyst Geoffrey Small liked the positive pre-announcement and believes the initial FY 2018 guide alleviates some key concerns. The analyst sees a long runway for growth now that company has taken steps to simplify its supply chain which, in turn, is leading to sizable cash generation.
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Shares of Restoration Hardware closed at $83.30 yesterday.