Telsey Advisory analyst Cristina Fernandez downgraded Arhaus (ARHS) to Market Perform from Outperform with a price target of $11, down from $12. The company’s demand has remained negative and is still expected down low-double-digits in Q4 following very strong performance from Q2 of 2020 to Q1 of 2024, the analyst tells investors in a research note. The firm says Arhaus is needing to run greater or longer promotions to generate demand. The company’s ongoing investments in the business should drive efficiencies over time, but limit EBITDA growth near-term, contends Telsey.
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Read More on ARHS:
- Arhaus, Inc. Reports Third Quarter 2024 Earnings Results
- Arhaus price target lowered to $11 from $14 at Baird
- Arhaus downgraded to Neutral at BofA on softer 2024 outlook
- Arhaus downgraded to Neutral from Buy at BofA
- Arhaus reports Q3 EPS 34c, consensus 8c
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