Wedbush Remains Sidelined on Home Depot (HD) - PT to $145

August 17, 2016 9:19 AM EDT
Get Alerts HD Hot Sheet
Price: $135.39 -0.57%

Rating Summary:
    14 Buy, 13 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 6 | Down: 10 | New: 6
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Wedbush reiterated a Neutral rating on Home Depot (NYSE: HD), and raised the price target to $145.00 (from $140.00), following the company's 2Q earnings report. HD reported a solid 4.7% comp, just below consensus' 4.8% estimate.

Analyst Seth Basham commented, "HD delivered a solid, largely in-line quarter despite a sluggish start driven by unfavorable weather and pull forward of demand to 1Q. Underlying trends appear intact, with big ticket sales strength persisting and the Pro business (~40% of sales) growth continuing to outpace DIY. With favorable macro drivers in place, better than planned expense management, and the anniversarying of the Interline brands acquisition, we see HD’s bump to FY16 EPS guidance as conservative and tick up our estimates and price target. We continue to favor LOW vs. HD given a narrowing comp gap (that we expect to be apparent again this quarter), higher EPS growth and a wider than historical average valuation multiple gap."

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 $136.23 yesterday.

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