Loop Capital initiated coverage of Arhaus (ARHS) with a Hold rating and $12 price target The company offers a unique consumer value proposition, including a highly differentiated artisan-crafted merchandise assortment, and also operates in a large and fragmented market for premium home furniture with several secular tailwinds, the analyst tells investors in a research note. Loop adds however that Arhaus stock is trading at a sizable premium to historical average levels, noting that the bullish fundamental outlook for the company is “largely priced in”. Loop prefers to wait for a more attractive entry point to become more constructive.
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