Barclays Maintains an 'Overweight' on Home Depot (HD); Raising PT Following Upbeat Management Meetings
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Price: $339.00 +0.86%
Rating Summary:
25 Buy, 20 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 3 | New: 2
Rating Summary:
25 Buy, 20 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 3 | New: 2
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Barclays maintains an 'Overweight' on Home Depot (NYSE: HD) price target raised from $41 to $46.
Barclays analyst says, "Management continues to highlight the company's operational strength and ability to grow margins and EPS successfully despite the state of the housing market. Management highlighted these important points: CEO reiterated his view that the housing market is likely to remain weak in 2012 and that the company expects its growth to mirror improvements in GDP...CFO highlighted the company's successful margin expansion through the RDC program and suggested that the company is poised for further margin expansion as it moves to streamline and optimize its merchandising operations."
"We are maintaining our EPS estimates of $2.40 for 2011, $2.73 for 2012 and $3.09 for 2013. Note that we are $0.02 above consensus for 2011. Home Depot is one of our Top Picks and is one of only five Hardlines names (out of 17) that we rate Overweight."
For an analyst ratings summary and ratings history on Home Depot click here. For more ratings news on Home Depot click here.
Shares of Home Depot closed at $39.14 yesterday.
Barclays analyst says, "Management continues to highlight the company's operational strength and ability to grow margins and EPS successfully despite the state of the housing market. Management highlighted these important points: CEO reiterated his view that the housing market is likely to remain weak in 2012 and that the company expects its growth to mirror improvements in GDP...CFO highlighted the company's successful margin expansion through the RDC program and suggested that the company is poised for further margin expansion as it moves to streamline and optimize its merchandising operations."
"We are maintaining our EPS estimates of $2.40 for 2011, $2.73 for 2012 and $3.09 for 2013. Note that we are $0.02 above consensus for 2011. Home Depot is one of our Top Picks and is one of only five Hardlines names (out of 17) that we rate Overweight."
For an analyst ratings summary and ratings history on Home Depot click here. For more ratings news on Home Depot click here.
Shares of Home Depot closed at $39.14 yesterday.
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