Guggenheim analyst Steven Forbes noted that RH raised its 2019 full-year guidance for the third time along with its Q2 report, which brings its pre-tax income outlook almost back in line with the "original" guidance given in December. Still, he believes management's updated guidance for the second half remains conservative as he anticipates an acceleration in Next Generation operating weeks. Forbes raised his price target on RH shares to $200 from $175 following the report and keeps a Buy rating on the shares, which are down $3.69, or 2%, to $155 in pre-market trading.