RH Target Price Cut to $190.00 Amid Mixed Q2 Results

RH, formerly Restoration Hardware, saw its target price cut by JPMorgan Chase & Co. from $212.00 to $190.00 in a research report on Friday.

This is not the first time RH has had its target price reduced; Wells Fargo & Company also lowered their target price on RH from $225.00 to $175.00 and set an "overweight" rating for the company in a report on Friday, while TD Cowen lowered their price target on RH from $220.00 to $190.00 and set a "buy" rating on the stock in a research note on Friday.

Despite these reduced targets, RH's quarterly earnings results beat analysts' consensus estimates, with the company reporting $2.70 earnings per share for the quarter, beating estimates of $0.38 by $2.32.

The brokerage currently has an "overweight" rating on the stock, and JPMorgan Chase & Co.'s target price suggests a potential upside of 38.85% from the stock's current price.