UPDATE: At Home Group (HOME) Underpromises and Overdelivers, PT Raised to $30 at Wells Fargo
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Wells Fargo analyst Zachary Fadem raised the price target on At Home Group (NYSE: HOME) to $30.00 (from $25.00) after the company reported Q4 comps of +30.8%,+1,000bps of gross margin expansion and a +55% EPS beat vs. Consensus.
Despite the strength, the analyst maintained an Equal Weight rating, stating "while our Q1 estimates are moving sharply higher, our 2021 EPS estimates are largely unchanged as incremental freight headwinds enter the picture(+100bps) and uncertainty lingers in a category that has historically proven to be lumpy,more discretionary and highly promotional. All in, we believe HOME absolutely deserves credit for righting the ship, capturing share and properly managing expectations, but we remain sidelined in hopes of a better entry point."
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