Telsey Advisory analyst Joe Feldman maintains $Home Depot (HD.US)$ with a buy rating, and maintains the target price at $455.
According to TipRanks data, the analyst has a success rate of 59.5% and a total average return of 8.4% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Home Depot (HD.US)$'s main analysts recently are as follows:
The expectation is set for a modest overperformance in comparable sales and earnings, which supports the projection that annual outcomes will align with the upper spectrum of the revised forecast. Despite potential positive results, clarity on enhancements across categories is still limited.
The firm approaches the latter half of 2024 with increased confidence, citing that their heightened earnings per share estimates for fiscal year 2024 surpass the upper range of guidance. Despite this near-term optimism, the firm's projections for fiscal years 2025 and 2026 remain conservative, falling short of the general consensus, due to reservations about the strength of the category's recovery. It has also been observed that although Home Depot and Lowe's shares have pulled back from their recent highs, they have experienced considerable gains following the release of June's CPI data.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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