Evercore ISI analyst Greg Melich lowered the firm’s price target on Home Depot to $410 from $420 and keeps an Outperform rating on the shares. The firm, which believes 2024 guidance was generally in line with buyside expectations, says Home Depot is gaining share in a bottoming home improvement market, but says the question now is “how long EPS will flatline near $15” before a positive turn in home improvement lead indicators result in positive comps.
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:
- Home Depot Earnings Report: Did it Beat Expectations?
- Options Volatility and Implied Earnings Moves Today, February 20, 2024
- Home Depot’s (NYSE:HD) Bleak Outlook Rattles Investors
- Home Depot sees FY24 EPS up 1%, consensus $15.07
- The Home Depot Announces Fourth Quarter and Fiscal 2023 Results; Increases Quarterly Dividend by 7.7%; Provides Fiscal 2024 Guidance
