Home Depot (HD): 2 Takeaways From Management Meetings - RBC

RBC Capital analyst, Scot Ciccarelli, reiterated his Outperform rating on shares of Home Depot (NYSE: HD) after meeting with senior management and noting two key takeaways:

Key drivers to industry demand remain positive – Housing prices continue to appreciate which is helping to drive more home upgrade and improvement demand.

The company is battling e-commerce through an omni-channel strategy – Home Depot generates 6%-7% of its sales from e-commerce and the growth rate in this distribution channel continues to outpace store growth at 20%+ also, the penetration rate in this retail vertical remains below other segments of retail.

price target of $176.00

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 $156.77 yesterday.

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