Truist lowered the firm’s price target on Home Depot to $352 from $382 but keeps a Buy rating on the shares after its results and guidance. The company’s Q4 sales trends remained "solid" with Pro business continuing to drive growth, though its outlook was modestly below expectations, largely due to increased wage investments, the analyst tells investors in a research note. The firm adds that Home Depot’s FY23 sales growth will essentially be flat as fundamentals continue to hold up in a difficult environment, and it remains positive on the stock given the the continued resiliency of home improvement overall.
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Published first on TheFly
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