Loop Capital analyst Laura Champine lowered the firm’s price target on Home Depot to $300 from $315 and keeps a Hold rating on the shares. The company’s Q3 results beat consensus estimates but came in below the firm’s expectations as the management cnotinues to cite declines in large projects, the analyst tells investors in a research note. Loop added that this is intuitive given higher cost of credit and the normalizing of PCE market share for home improvement.
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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on HD:
- Advance Auto Parts Stock (NYSE:AAP): Take This One to the Scrap Yard
- Home Depot Earnings Update: Did it Beat Estimate Forecasts?
- Home Depot price target raised to $320 from $315 at Gordon Haskett
- Home Depot Stock (NYSE:HD): Give This Fixer-Upper a Chance
- Home Depot says supply chains ‘operating very well’