Analyst Steven Zaccone from Citi maintained a Buy rating on Home Depot (HD – Research Report) and keeping the price target at $433.00.
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Steven Zaccone has given his Buy rating due to a combination of factors that reflect Home Depot’s strong market position and growth potential. The company’s ability to maintain stable pricing indicates its significant scale and operational efficiency, which are crucial in a competitive retail environment. Additionally, Home Depot’s strategic focus on global diversification and a portfolio approach to pricing further enhances its resilience and adaptability.
Moreover, the company’s performance in the first quarter met expectations, and there is an optimistic outlook for the remainder of the year with anticipated growth in the second half. Home Depot’s investments in its capabilities to serve large professional clients are also paying off, reinforcing its market leadership and providing a solid foundation for future growth. These factors collectively support Zaccone’s positive outlook and Buy rating for Home Depot’s stock.
According to TipRanks, Zaccone is a 4-star analyst with an average return of 4.8% and a 58.05% success rate. Zaccone covers the Consumer Cyclical sector, focusing on stocks such as Best Buy Co, Home Depot, and Lowe’s.
In another report released yesterday, Evercore ISI also maintained a Buy rating on the stock with a $400.00 price target.