DA Davidson analyst Michael Baker reiterated a Buy rating and $470.00 price target on Home Depot (NYSE: HD).

The analyst commented, "HD’s comps were slightly negative, although about as estimated and maybe even a bit better than the market expected. Transaction count was positive, the second increase in a row. And we believe that HD saw comp momentum through the quarter, including down 3% in February improving to +1.8% in April, with that trend continuing into May. EPS after adjustments was a bit light, but that was due to below the line items. In fact, operations profit was slightly ahead of consensus. All in all, while business trends remain relatively muted, we think the market will react to what was essentially in in line quarter, with guidance maintained."

For an analyst ratings summary and ratings history on Home Depot click here. For more ratings news on Home Depot click here.

Shares of Home Depot closed at $379.38 yesterday.