Goldman Sachs Boosts RH Stock Amid Luxury Furniture Partnership
Goldman Sachs has upgraded RH's stock rating to Neutral and raised its target price to $155. This news comes as RH, a leading residential design firm, announced a multi-year partnership with Mercedes-AMG PETRONAS Formula One Team.
The collaboration, which begins in late 2026, aims to elevate experiences for partners and guests by reimagining hospitality environments across the team's global footprint. RH will serve as the Global Interior Design and Luxury Furnishings Curator, introducing its distinctive perspective beyond the home.
'This partnership unites two organizations committed to excellence,' said Gary Friedman, Founder, Chairman, and Chief Executive Officer of RH. 'The Mercedes-AMG PETRONAS Formula One Team has established a benchmark for precision, innovation, and performance, creating an opportunity to develop immersive environments unlike anything experienced in sport.'
The partnership will launch with RH-designed environments at trackside destinations, hospitality venues, clubs, and the team's Executive Headquarters in the U.K. Initial locations include Abu Dhabi, Miami, Monaco, and Silverstone.