Cowen Remains Bullish on Restoration Hardware (RH) Following 2Q15

Cowen reiterated an Outperform rating and $108.00 price target on Restoration Hardware (NYSE: RH) following the company's 2Q15. RH reported EPS of $0.85, beating consensus by 1c. Revenues were $506.9M, coming in ahead of consensus' $503.33M.

Analyst Oliver Chen commented, "Impressive 2Q momentum (rev. & EPS beat) plus strong prospects for 4Q sales acceleration on Modern, Teen & new galleries drive our conviction in RH's L-T growth, margin expansion & steady mid-to-high 20's EPS growth. What's New: strong 2Q comp despite less newness y/y, greater conviction in Modern, reiteration of FCF positive, 2H SG&A leverage & accelerated sales growth in '16 on new biz drivers."

For an analyst ratings summary and ratings history on Restoration Hardware click here. For more ratings news on Restoration Hardware click here.

Shares of Restoration Hardware closed at $91.06 yesterday.

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