RBC Capital Reiterates Outperform Rating on Home Depot (HD)
RBC Capital analyst Scot Ciccarelli reiterated an Outperform rating and $323.00 price target on Home Depot (NYSE: HD). 4Q US comps were +~25% for a 3rd straight quarter and QTD trends are likely in the mid-20% range. RBC Capital slightly raised 2021/2022 estimates to $12.65/$13.65 from $12.55/$13.55 due to a modestly better sales forecast.
While the company did not provide formal guidance, its broad outline for 2021 is fairly similar to preprint expectations, with flat/slightly up comps and EBIT margins of 14% +.
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Shares of Home Depot closed at $267.51 yesterday.