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Fly News Breaks for June 2, 2017
RH
Jun 2, 2017 | 08:35 EDT
Deutsche Bank analyst Adam Sindler lowered his price target for RH to $45 after the company issued Q2 and FY17 outlooks below consensus. Further SKU rationalization remains the key downside risk, Sindler tells investors in a post-earnings research note. On the other side, the analyst believes RH "could dip into" its new $700M buyback authorization "sooner rather than later." The analyst sees potential for further estimate cuts and keeps a Hold rating on the shares.
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