Jefferies Maintains Buy on Home Depot (HD) Following Q&A Sessions
Jefferies maintains a Buy rating and $135 price target on Home Depot (NYSE: HD) following Q&A sessions. Analyst Daniel Binder says that Q2 is off to a good start.
Binder commented on HD, saying, "Fundamentals are strong at HD and it remains a “consensus long,” but we still like it to play the reversion to the mean trade on home improvement spend and remodeling. Share repurchase could have upside as HD guidance seems low based on its 2x adj. debt to ebitdar target. Q2 is off to a good start, but is still expected to be the lowest comping quarter in FY16. This reflects the way weather broke last year and the sales comparison."
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Shares of Home Depot closed at $112.34 yesterday.