Barclays Keeps Home Depot (HD) as 'Top Pick'; Impressive 1Q Underscores Robust Business

Barclays maintains an 'Overweight' on Home Depot (NYSE: HD) price target of $57.00.

Analyst, Alan M. Rifkin, said, "The Home Depot reported continuing 1Q EPS of $0.65, above our estimate of $0.64 and compared to $0.50 last year. 1Q same-store sales of 5.8%, though slightly below our 6.0% expectation, represented the company's strongest compare since 1Q04. In the U.S., comps increased an impressive 6.1%."

Rifkin raises FY12 EPS estimate from $2.90 to $2.95, FY13 from $3.25 to $3.30 and FY14 from $3.70 to $3.75.

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 $48.67 yesterday.

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