Home Depot (HD) PT Raised to $386 at RBC Capital, Sales Should Be Stronger For Longer

May 18, 2021 12:49 PM EDT
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Price: $302.61 -0.17%

Rating Summary:
    25 Buy, 16 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 15 | Down: 13 | New: 24
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RBC Capital analyst Scot Ciccarelli raised the price target on Home Depot (NYSE: HD) to $386.00 (from $377.00) while maintaining an Outperform rating following earnings.

The analyst commented, "With 4 consecutive quarters of ~25%+ comps and QTD trends at 30%+ on a 2-year basis, business remains very robust. Further, even with wage increases, EBIT margins expanded 380 bps and EBIT $s increased by ~76%. We continue to believe accelerated home investment will remain for the foreseeable future given extreme supply/demand housing imbalances and historical behavioral changes from prior nesting periods. Remain buyers of HD."

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