Wedbush on Friday cut its rating on Restoration Hardware Inc. to neutral from outperform and trimmed its 12-month price target to $270 from $274."With RH steadfast in protecting its brand without discounting, this has contributed to mounting market share losses," analyst Seth Basham said in a research note. Basham said a potential course-correction in the company's strategy and deteriorating macro outlook also motivated his rating downgrade. Shares of Restoration Hardware fell 3.
... Wedbush on Friday cut its rating on Restoration Hardware Inc. RH to neutral from outperform and trimmed its 12-month price target to $270 from $274."With RH steadfast in protecting its brand without discounting, this has contributed to mounting market share losses," analyst Seth Basham said in a research note. Basham said a potential course-correction in the company's strategy and deteriorating macro outlook also motivated his rating downgrade.