Home Depot expects smaller drop in annual sales as hurricane rebuild boosts quarter
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November 13, 2024 7:00 PM EST
Morgan Stanley analysts reiterated their positive outlook on a home improvement retailers stock after the companys Q3 2024 results, noting that the retailer is well-positioned for steady growth despite a challenging macro environment.
The analysts highlighted several key factors that should help Home Depot (NYSE: HD) sustain its performance in the coming quarters.
According to Morgan Stanley, fundamentals are moving in the right direction,... More
November 13, 2024 8:16 AM EST
Evercore ISI analyst Greg Melich raised the price target on Home Depot (NYSE: HD) to $430.00 (from $420.00) while maintaining a Outperform rating.
The analyst comments "1Q21. 156m stimulus checks ($400bn) hit households. 30% of the U.S. population had a COVID jab. Opening Day Baseball occurred at 12-40% capacity. And Home Depot printed its last quarter of positive traffic. 14 quarters of negative traffic behind us, at least the duration of the post-COVID is approaching the 16 straight quarters during the Global Financial Crisis. The upshot: 3Qs - 0.6% comp transaction decline was best since the... More
November 12, 2024 12:50 PM EST
Truist Securities analyst Scot Ciccarelli raised the price target on Home Depot (NYSE: HD) to $465.00 (from $459.00) while maintaining a Buy rating.
The analyst comments "3Q results were better than we originally expected, helped by warm/dry weather and ~ $200mm of incremental storm-related sales.... More
