ARHS - Arhaus started at Buy as Cowen eyes 'attractive entry point'

2023-04-05 09:16:45 ET

Arhaus ( NASDAQ: ARHS ) is presenting an opportunity for investors, according to Cowen.

The firm’s analysts started coverage of the Ohio-based home furnishings retailer at Outperform with an $11 price target, advising clients that the company occupies an attractive position in the luxury furniture industry. The team added that rapidly growing revenues should continue, even amidst a cloudy macro backdrop.

“We are bullish on the opportunity ahead,” the team commented. “[Long-term] guide of [high-single-digit revenues] on [mid-single digit] comps and [low double-digit] EBITDA has underappreciated upside, which along with modest valuation provides an attractive entry point.”

Shares of Arhaus ( ARHS ) rose 1.33% shortly before the market open on Wednesday.

Read more on Bank of America’s view of the company’s mindshare among consumers .

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