Roth MKM analyst David Bellinger lowered the firm’s price target on Home Depot to $292 from $312 and keeps a Neutral rating on the shares after its Q4 results and guidance. The company’s cautious tone that surfaced back with Q3 results has now taken on more weight with management guiding to "flattish" comps this year, while its quarter-to-date commentary also suggests that trends have not rebounded into February, the analyst tells investors in a research note. Home Depot’s FY23 is now seen as a "recalibration year" with annual earnings set to decline for the first time since 2008, the firm added.
Published first on TheFly
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