Arhaus shares jump on Jefferies 'buy' upgrade
Arhaus Inc shares gained 3.5% in premarket trading on Tuesday after Jefferies upgraded its rating on the U.S. home furnishings retailer to 'buy' from 'hold,' citing renewed optimism about its strategy to elevate brand awareness.
06 in premarket trade after Jefferies raised its rating on the US home furnishings retailer to 'buy' from 'hold'. 4% upside to the stock's last close. The brokerage said the upgrade reflected "newfound optimism on the retailer's strategy to elevate brand awareness via broadened catalog circulation and digital marketing stemming from site traffic up >100% y/y the past 4 weeks". Arhaus beat Q2 revenue estimates in August.
The stock was down 27% year to date as of the previous day's close.