According to CNBC, Jefferies upgraded Arhaus to buy from hold and raised its price target to $10 from $9.50, implying 28% upside from Friday's close. Analyst Jonathan Matuszewski said the firm is more optimistic about the retailer's strategy to lift brand awareness through broader catalog circulation and digital marketing. He said Arhaus shares have fallen nearly 31% year to date as macroeconomic and geopolitical pressures have weighed on consumers and margins, but noted website traffic has more than doubled over the past four weeks on a year-over-year basis. Matuszewski also said expanded circulation of the company's semi-annual catalog could add 75 to 200 basis points to comparable sales in 2027, and that Arhaus' early-stage business-to-business strategy could provide an additional annual comp tailwind of 150 to 200 basis points. Shares rose more than 6% after the upgrade.