Home Depot price target raised to $300 from $280 at Loop Capital

Loop Capital analyst Laura Champine raised the firm’s price target on Home Depot to $300 from $280 but keeps a Hold rating on the shares following the company’s investor day presentation. The firm’s updated model reflects more tightly controlled SG&A expense and more store growth long-term, the analyst tells investors in a research note. The firm adds however that this year’s 7%-13% projected EPS decline on top of 7% growth in 2022 is unlikely to allow for multiple expansion for Home Depot, and the stock’s base case is “unlikely to excite investors in the near-term”.