UBS Reiterates Buy on Home Depot (HD) Following 3Q

November 16, 2016 9:17 AM EST
Get Alerts HD Hot Sheet
Price: $133.39 +0.65%

Rating Summary:
    14 Buy, 13 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 21 | Down: 36 | New: 11
Trade HD Now!
Join SI Premium – FREE

Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.

UBS reiterated a Buy rating and $145.00 price target on Home Depot (NYSE: HD) following the company's 3Q earnings report. HD reported comps of 5.5% (5.9% in the US), performing in-line with the 3Q category growth of 5.9%.

Analyst Michael Lasser commented, "While the market expressed some disappointment with HD’s overall 3Q results, we think the reaction was short-sighted. HD’s 3Q comp of 5.5% (5.9% in the US) provided evidence to believe it can sustain its momentum for a while. It performed in-line with the 3Q category growth of 5.9%. We believe the outcome was due to the accumulated benefits of its various initiatives. Its focus on the Pro customer has and should continue to pay off. This segment grew faster than DIY for at least the fourth quarter in a row. It's taking share in appliances which grew double-digits (vs. industry growth of 3.7%). Its online channel increased 17% and contributed 100 bps to its comp. Collectively, we think it can continue to gain from these strategies, enabling it to grow even as it confronts tougher near-term compares and gets into the later stages of the cycle."

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 $124.40 yesterday.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Analyst Comments

Related Entities

UBS, Earnings

Add Your Comment