Goldman Sachs Downgrades Home Depot (HD) to Neutral
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Price: $338.19 +1.11%
Rating Summary:
28 Buy, 21 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
28 Buy, 21 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Goldman Sachs downgraded Home Depot (NYSE: HD) from Buy to Neutral with a price target of $36 (down from $39).
The firm said fading cyclical tailwinds suggest less upside to HD forecasts, with the firm's 4Q sales and EBIT forecasts below the Street. The firm also notes that the company is deeper into its "successful, logistics-driven turnaround." In addition, rival Lowe's (NYSE: LOW) has acknowledged its underperformance and is looking to remedy the sales growth gap with HD.
For more ratings news on Home Depot click here and for the rating history of Home Depot click here.
Shares of Home Depot closed at $32.47 yesterday.
The firm said fading cyclical tailwinds suggest less upside to HD forecasts, with the firm's 4Q sales and EBIT forecasts below the Street. The firm also notes that the company is deeper into its "successful, logistics-driven turnaround." In addition, rival Lowe's (NYSE: LOW) has acknowledged its underperformance and is looking to remedy the sales growth gap with HD.
For more ratings news on Home Depot click here and for the rating history of Home Depot click here.
Shares of Home Depot closed at $32.47 yesterday.
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