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Fly News Breaks for July 30, 2019
RH
Jul 30, 2019 | 08:48 EDT
Loop Capital analyst Anthony Chukumba raised his price target on RH to $150 and kept his Buy rating after its positive Q2 pre-announcement driven by the favorable early response to the company's recently introduced RH Beach House source book. The analyst further cites the management's optimism about the upcoming debuts of RH Ski House and several new RH Interiors / Modern collections, adding that at a 13.9-times expected FY19 earnings multiple, the valuation on RH is at a "steep discount" to its historical average levels.
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