RH Seeing Further Upside On Upgrade By Stifel Nicolaus

(RTTNews) - After moving sharply higher in the previous session, shares of RH (RH) are seeing further upside during trading on Friday. RH is currently up by 3.3 percent, climbing further off the four-month closing low set on Wednesday.

The continued advance by RH comes after Stifel Nicolaus upgraded its rating on the home furnishings retailer formerly known as Restoration Hardware to Buy from Hold, citing valuation as well as increased brand strength.

Shares of RH surged up by 10.1 percent on Thursday after announcing its board has authorized a common share repurchase program of up to $700 million.