RH Is Poised For 'Positive Inflection' In 2025 Earnings: Analyst

1. RH is showing early signs of positive demand inflection. 2. Morgan Stanley upgraded RH's rating to Overweight, raising price target to $530. 3. Future collections launching should unlock pent-up demand through 2025. 4. Improving macro environment positively influences upper-income households. 5. Tariff risks have decreased for RH, diversifying sourcing away from China.