Bank of America Securities analyst Jason Haas CFA reiterated a Buy rating on Arhaus (ARHS – Research Report) yesterday and set a price target of $14.50.
Jason Haas CFA has given his Buy rating due to a combination of factors indicating a positive trend for Arhaus’s stock (ticker: ARHS). The recent improvement in spending at premium furnishings retailers, which is highly correlated with ARHS’s demand, suggests a recovery from previous declines, with a less severe year-over-year decrease in the fourth quarter compared to the third. Additionally, Arhaus’s implied guidance for low single-digit range demand comps in the fourth quarter shows resilience in the face of industry challenges, adding to the optimism surrounding the stock.
Furthermore, Arhaus’s web traffic outperforms that of its peers, demonstrating the company’s strong digital presence and potential for market share gains. The company is still in the early stages of expansion, with significant room to grow its gallery count towards its long-term target. Coupled with the shift in valuation basis to 2025 earnings estimates and an attractive price objective increase, Haas sees a compelling case for a Buy rating on ARHS shares, reflecting the company’s growth trajectory and market positioning.
Haas CFA covers the Consumer Cyclical sector, focusing on stocks such as Tractor Supply, O’Reilly Auto, and Hasbro. According to TipRanks, Haas CFA has an average return of 14.9% and a 65.29% success rate on recommended stocks.
In another report released on March 1, Telsey Advisory also assigned a Buy rating to the stock with a $15.00 price target.
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Arhaus (ARHS) Company Description:
Arhaus Inc is a lifestyle brand and omni-channel retailer of home furnishings. The company offers direct-to-consumer approach to furniture and decor, through which it sell artisan-quality products.
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