Guggenheim analyst Steven Forbes kept his Buy rating and $175 price target on RH but raised his earnings forecasts on the stock and also labeled it his "Best Idea" in the space. The analyst notes that his recent discussions with the management helped to explain the shortfall in Q2 sales and comps, even though he sees the "core" comps as coming in line. Forbes attributes some of the shortfall to higher than expected cannibalisation from last year's "SKU rationalization efforts". Additionally, the analyst notes the company's shorter "Home Furnishings Event" promotion of just 19 days this year vs. 36 days in 2017. Forbes contends that at 11.0-times his expected FY18 EBITDA, RH shares are "attractively valued" and set up to outperform in 2018 on improved operating momentum.