Jonathan Matuszewski, an analyst from Jefferies, reiterated the Buy rating on Home Depot. The associated price target is $474.00.
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Jonathan Matuszewski has given his Buy rating due to a combination of factors that suggest a positive outlook for Home Depot. In the short term, the company is experiencing a resurgence in DIY activities and the broadest range of positive-comping categories in years. Additionally, Home Depot is benefiting from minimal price increases compared to smaller competitors, which is expected to elevate its market share. The company’s strong e-commerce growth and management’s confidence in achieving a 1% comp for 2025 further support this positive outlook.
Looking ahead to the medium and long term, Matuszewski anticipates that rate cuts in the second half of 2025 will stimulate larger remodeling projects, enhancing Home Depot’s growth potential. He also expects that the normalization of DIY consumer demand and a rebound in existing home sales will drive long-term growth. Furthermore, Home Depot’s expansion of trade credit and order management capabilities is likely to attract a broader range of professional clients, increasing its market share and solidifying its position as a top-tier retailer.
In another report released today, D.A. Davidson also maintained a Buy rating on the stock with a $450.00 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.