Jefferies Raises Estimates and PT on Home Depot (HD); Shares No Longer Cheap

Jefferies maintains a 'Hold' on Home Depot (NYSE: HD) price target of $51.00 (from $48.00).

Analyst, Daniel Binder, said, "EPS $0.04 ahead of expectations on in-line sales and an unusual amount of SG&A leverage due to unique items. Q3 to date on plan and management sounds upbeat on housing and ability to gain share. Shares strength reflects good fiscal control and prospects for outperformance if housing continues to improve and competitors struggle to gain traction. Shares no longer “cheap,” so we maintain our rating."

Next quarter EPS estimate raised $0.01 to $0.68, FY13 from $2.89 to $2.93, FY14 maintained at $3.20

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 $54.71 yesterday.

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