DA Davidson Reiterates Buy Rating on Home Depot (HD) Following Earnings Beat

DA Davidson analyst Michael Baker reiterated a Buy rating and $377.00 price target on Home Depot (NYSE: HD).

The analyst commented, "HD comps were +1.7% in total and +1.3% in the U.S., which were both better than last quarter and in fact the best comps in several years. Each accelerated nicely on a twoyear basis as well. That does not mean that we are out of the woods yet with respect to home-related spending, particularly as rates continue to move back up. But it does show that the worst of the cycle downtrend is likely behind us. EPS beat nicely, but that was presumably helped by tariff refunds. The guidance was maintained, with the previously unplanned tariff benefit offsetting also unplanned higher input costs. The implied back half guide brackets consensus."

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 $337.88 yesterday.

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