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."

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 $94.83 yesterday.

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