Analyst Christopher Horvers from J.P. Morgan maintained a Buy rating on Home Depot and decreased the price target to $452.00 from $460.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Christopher Horvers has given his Buy rating due to a combination of factors that highlight Home Depot’s potential for growth and resilience in the retail sector. One of the key reasons is the anticipated improvement in comparable sales, driven by diminishing share-of-wallet headwinds and favorable replacement cycle dynamics. Additionally, Home Depot’s strong business momentum, which has been the best in two years, supports this optimistic outlook.
Furthermore, Horvers points to Home Depot’s strategic pricing power and its ability to navigate tariff environments effectively, thanks to its domestic sourcing and vendor leverage. The company’s efforts to maintain price leadership and its innovative growth initiatives also contribute to its attractiveness. Despite some macroeconomic uncertainties, the long-term prospects for Home Depot remain strong, with a potential for premium valuation supported by the housing market and the company’s differentiated pro efforts.
In another report released yesterday, Jefferies also reiterated a Buy rating on the stock with a $474.00 price target.
Based on the recent corporate insider activity of 82 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of HD in relation to earlier this year.