RESTORATION HARDWARE EARNS `BUY' RATING FROM NEW ANALYST.(specialty retailer management team is strong)
HFN: The Weekly Newspaper for the Home Furnishing Network, July, 2003 by Zaczkiewicz, Arthur
NEW YORK-W R Hambrecht & Co. analyst Kristine Koerber initiated coverage on specialty retailer Restoration Hardware last week, pegging the company's stock with a "Buy" rating.
In a 23-page research report, Koerber described the retailer as a "turnaround story with plenty of low-hanging fruit." Due to several initiatives made by the retailer in regard to merchandising and sourcing as well as working to improve its balance sheet, the analyst is projecting top-line growth of 10 percent to 15 percent, with earnings growth topping 25 percent during the next several years.
Koerber praised Restoration Hardware's management team and said the company's multiphase merchandising plan was moving in the right direction.
The analyst said the retailer's...
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