On Nov 13, major Wall Street analysts update their ratings for $Home Depot (HD.US)$, with price targets ranging from $410 to $465.
Morgan Stanley analyst Simeon Gutman maintains with a buy rating, and maintains the target price at $450.
J.P. Morgan analyst Christopher Horvers maintains with a buy rating, and maintains the target price at $450.
BofA Securities analyst Robert Ohmes maintains with a buy rating, and adjusts the target price from $425 to $450.
Citi analyst Steven Zaccone maintains with a buy rating, and maintains the target price at $433.
Barclays analyst Seth Sigman maintains with a buy rating, and maintains the target price at $420.
Furthermore, according to the comprehensive report, the opinions of $Home Depot (HD.US)$'s main analysts recently are as follows:
Following Home Depot's reported Q3 adjusted earnings per share, which surpassed expectations due to unexpectedly high comparable sales, projections for FY25 earnings per share have been revised upwards on account of the Q3 outperformance.
The firm emerged from the earnings conference call with a reinforced positive outlook on Home Depot. Regardless of storm-related impacts, Home Depot's October comparable sales figures were favorable, possibly benefiting from professional and outdoor categories. This suggests that low-single-digit comparable sales for fiscal 2025 are likely a conservative estimate, with the potential for higher figures as the year progresses. Trade credit is seen as a significant forthcoming development and an underrated element of Home Depot's narrative.
The expectation is set for Home Depot to potentially exceed its comparative sales and earnings forecasts, which could lead to achieving the upper spectrum of its revised full-year guidance. Although this outcome would be favorable, clarity on the enhancement of specific product categories is still limited.
In anticipation of fiscal Q3 earnings, there is a maintained stance on the shares of Home Depot. With a more optimistic view on the second half of 2024, the expectation is that the EPS estimates for FY24 will surpass the higher end of guidance. Yet, the forecast for FY25 and FY26 remains below the consensus, due to cautiousness regarding the extent of the category's recovery. It has also been observed that although shares of Home Depot and Lowe's have pulled back from their recent highs, they have experienced a surge of 20% and 25%, respectively, following the release of June CPI data.
Here are the latest investment ratings and price targets for $Home Depot (HD.US)$ from 13 analysts:
Note:
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