As discussed in today's Residential Furniture Industry Update research note, we recently met with HVT's senior management at the High Point Furniture Market in High Point, NC. On the other hand, we are concerned by record low consumer confidence and increased fuel prices since the Iran conflict began in late February (which not only could lead to lower demand but increased delivery costs for Haverty). For 1Q:26, we now anticipate total revenue of $191.5 million (was $191.8 million) and estimate EPS of $0.24 (was $0.25). Our $33 price target is based on 11x our 2027 EPS estimate of $3.00. Our moderate risk rating factors in our projection of a profit rebound in 2026 and 2027, along with HVT's solid balance sheet and ample free cash flow prospects.