KeyBanc Reiterates Sector Weight Rating on Home Depot (HD)
KeyBanc analyst Bradley Thomas reiterated a Sector Weight rating on Home Depot (NYSE: HD).
The analyst comments "HD remains a top tier retailer facing a challenging industry backdrop. HD reported mixed 1Q results, pressured by poor weather. Comps declined 0.3%, aligning with our Key First Look data and our Pro survey, which pointed to softer trends for home improvement professionals. Pro comps were positive and outpaced DIY in 1Q, with strength across many Pro-heavy categories. Bigticket comps were +0.3%, positive for a second quarter, but HD still sees softer engagement in larger discretionary projects. Looking ahead, HD reaffirmed 2025 guidance, which includes encouraging underlying YTD trends and the impacts of tariffs. While we see a compelling recovery opportunity over the next several years, we believe elevated long-term rates and a high valuation may limit nearterm upside for shares."
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Shares of Home Depot closed at $377.05 yesterday.