Home Depot, Inc.(NYSE:HD) shares are trading higher today. Several analysts cut the price target and lowered the estimates after second quarter FY24 earnings results reported yesterday.

Yesterday, Home Depot reported second-quarter sales growth of 0.6% year-over-year to $43.175 billion, marginally missing the consensus estimate of $43.376 billion and adjusted EPS of $4.67 (-0.2% Y/Y), beating the consensus of $4.50.

For FY24, Home Depot raised its sales guidance from $154.20 billion to $156.49 billion – $158.01 billion vs. the consensus of $158.88 billion and, expects comparable sales to decline between 3% and 4% (prior ~1%).

Stifelanalyst W. Andrew Carter maintained a Hold rating and cut the price target to $375 from $380.