Oppenheimer Reiterates Outperform on Home Depot (HD) After Meeting with Management

Oppenheimer reiterated an Outperform rating and $133.00 price target on Home Depot (NYSE: HD) after meeting with senior management on September 15th.

Analyst Brian Nagel commented, "On Tues., Sep. 15th, we met with senior management of Outperform-rated Home Depot (HD) at the company's headquarters in Atlanta. For a long while we have recommended HD as one of our Select Top Picks within Hardlines Retail. We came away from our meetings with the company's senior executives even more confident in our near- and longer term positive stance on shares. HD does not comment on business trends intra-quarter. Key takeaways: 1) Macro environment remains very accommodative for HD; 2) Buy Online/Pick Up in Store is catching on with consumers; 3) HD focused upon better serving pro customers; 4) Chain positioned to deal with wage pressures; 5) Management remains committed to aggressive cash redistribution."

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 $116.18 yesterday.

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