Home Depot price target lowered to $346 from $360 at BofA

BofA lowered the firm’s price target on Home Depot to $346 from $360 and keeps a Buy rating on the shares, stating that the company "surprised both sell-side and buy-side investors with somewhat lower-than-expected" Q4 sales as well as a lower-than-expected outlook for FY23 sales and EPS growth. The firm, which lowered its FY23 and FY24 EPS forecasts following the report, contends that the stock "still looks inexpensive."