On Nov 14, major Wall Street analysts update their ratings for $Home Depot (HD.US)$, with price targets ranging from $430 to $475.
Morgan Stanley analyst Simeon Gutman maintains with a buy rating, and maintains the target price at $450.
BofA Securities analyst Robert Ohmes maintains with a buy rating, and maintains the target price at $450.
Citi analyst Steven Zaccone maintains with a buy rating, and maintains the target price at $433.
UBS analyst Michael Lasser maintains with a buy rating, and adjusts the target price from $425 to $475.
Jefferies analyst Jonathan Matuszewski maintains with a buy rating, and adjusts the target price from $407 to $467.
Furthermore, according to the comprehensive report, the opinions of $Home Depot (HD.US)$'s main analysts recently are as follows:
The firm's expectations for Home Depot's performance have risen following the company's third-quarter adjusted earnings per share, which surpassed the general market consensus. This outperformance is attributed to comp sales that exceeded forecasts. Consequently, the firm has adjusted its future earnings per share estimate upwards based on the robust third-quarter results.
The company's Q3 results surpassed expectations, and sales trends are becoming more favorable in anticipation of the Federal Reserve's interest rate cuts. Additionally, it is expected that recent severe weather events will stimulate an increase in future demand.
Following 14 consecutive quarters of declining customer traffic, the recent 0.6% dip in comparable store transactions represents the smallest drop since this trend began. This improvement is seen as a positive indicator of change in the company's performance.
The firm has reaffirmed its positive stance on Home Depot after the earnings call, bolstering its optimistic thesis. Independent of weather-related events, Home Depot saw positive comparable sales in October, potentially aided by professional and outdoor categories. This suggests that low-single-digit comparable sales for fiscal 2025 could be more of a baseline expectation, with the possibility for higher figures emerging throughout the year. The aspect of trade credit is seen as a significant and underappreciated component that could greatly benefit the company's narrative.
Here are the latest investment ratings and price targets for $Home Depot (HD.US)$ from 9 analysts:
Note:
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