Loop Capital analyst Anthony Chukumba kept his Buy rating and $175 price target on RH after its investor event yesterday, saying investors continue to underestimate the "profitability and scalability" of the company's "evolving" business model. The analyst notes that RH is building a "differentiated" customer experience in a "retail sea of sameness", adding that yesterday's opening of RH New York store was also "one of the most impressive retail stores we have ever visited". Chukumba sees the current valuation on RH at 15-times his expected forward earnings as a discount to the company's historical average levels.