Home Depot (HD) PT Raised to $266 at RBC Capital

RBC Capital analyst Scot Ciccarelli raised the price target on Home Depot (NYSE: HD) to $266.00 (from $261.00) while maintaining an Outperform rating.

The analyst commented, "1Q results were similar to our general expectations – strong US comp growth of 7.5% (despite headwinds from social distancing measures) and substantially higher expenses given incremental labor costs. Importantly, sales strength has continued in 2Q, SG&A growth should subside and the BS/CF are in very good shape. HD is poised to be a relative winner as long as mortgage conditions don’t pressure the housing market. Remain buyers."

You May Also Be Interested In

• Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
• DA Davidson Starts Everus (ECG) at Buy
• Ferrovial SA (FER:SM) (FRRVF) Reiterated at Buy by UBS on Winning Bid For Tennessee Project