Piper Jaffray analyst Peter Keith expects RH's Q4 earnings report tonight to be mixed. He believes the company's Q4 comp was likely in-line or above the consensus estimate of up 7.0%, but thinks the Q1 comp consensus is likely too high at 4.6%. Looking to the full year, it now appears the opening of the New York gallery will be delayed until at least September, Keith tells investors in a pre-earnings research note. He lowered his price target for the shares to $103 from $107 and keeps a Neutral rating on RH. The valuation at current levels has become "intriguing," but this now seems "hinged on whether RH can hit current guidance with a weak start to the year," the analyst writes.