Truist analyst Scot Ciccarelli lowered the firm’s price target on Home Depot to $396 from $406 and keeps a Buy rating on the shares. The firm is lowering its Q2 U.S. comps estimate to down from down 1.0% due to its Truist Card Data findings. Truist continues to expect home improvement activity to eventually reaccelerate, but the timing remains uncertain amid the modest rise in existing home inventory levels given the potential pressure that could eventually exert on housing prices, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% 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>>
Read More on HD:
- SKYX Platforms, Home Depot collaborate for advanced, smart plug & play products
- Home Depot price target raised to $380 from $374 at Stifel
- Home Depot management to meet with Oppenheimer
- Homecenter demand remains sluggish in Q2-to-date, says Cleveland Research
- Unusually active option classes on open July 11th