Telsey Advisory Group upgrades RH to 'outperform' on strong demand trends

** Telsey Advisory Group raises luxury furniture maker RH's RH rating to "outperform" from "market perform", lifts PT to $500 from $485

** Strong demand trends in Q3 and Q4 show RH is gaining market share even as furniture demand remains soft across the industry - Brokerage

** Introduction of new collections across interiors, outdoor and modern business at accessible price points has allowed consumers to return to shopping at RH, TAG analyst Cristina Fernández says

** Adds RH's plans to cut all imports from China by Q2 2025 show it has taken more steps to protect itself against potential China tariffs than other companies

** 2025 should also mark a turning point for RH in Europe as the company opens its first store in the major cities of London and Paris - brokerage

** Nine of 22 brokerages rate the stock "buy" or higher, 11 "hold" and two "sell" or lower; their median PT is $467.50

** Stock last down 1.7% at $389.80; YTD, RH up ~36% as of last close