Shares of Restoration Hardware (RH) are soaring 6.16% in intraday trading on Wednesday, as investors eagerly await the company's fourth-quarter earnings report, scheduled for release after the market close. The luxury home furnishings retailer's stock movement reflects growing optimism about its financial performance and outlook.

Analysts expect RH to report quarterly earnings of $1.92 per share, a significant increase from $0.72 per share in the same quarter last year. The company's revenue is projected to reach $829.56 million, up from $738.26 million in the year-ago period. These expectations suggest a strong recovery and growth for RH, which could be driving the pre-earnings stock surge.

Recent analyst actions have been mixed but generally positive. While some firms have lowered their price targets, others have upgraded their ratings. For instance, Goldman Sachs upgraded RH from Sell to Neutral in January, while Morgan Stanley raised its rating to Overweight. This renewed confidence from Wall Street, combined with the anticipation of strong Q4 results, appears to be fueling investor enthusiasm and contributing to today's stock price increase.