Goldman Sachs Raises Numbers on Home Depot (HD), Keeps Neutral Rating

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Goldman Sachs raised estimates and its price target Home Depot (NYSE: HD) from $45 to $51, but kept its Neutral rating following strong Q4 results.

The firm said they came away from the fourth quarter call with three key conclusions: Underlying core demand is better; maintaining excellent P&L control; the only offsetting factor is supply chain gains which are likely to track to a more modest 10 bp in 2012.

The firm raised 2012 EPS to $2.86 from $2.74 (above guidance of $2.79) and 2013 EPS goes to $3.25 from $3.14. They introduce 2014E EPS of $3.68.

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 $46.92 yesterday, with a 52 week range of $28.13-$48.07.

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