Home Depot price target raised to $320 from $315 at Gordon Haskett

Gordon Haskett analyst Chuck Grom raised the firm’s price target on Home Depot to $320 from $315 and keeps an Accumulate rating on the shares. The firm notes that Home Depot’s Q3 print exceeded its expectations on the top and bottom line, with same-store sales down 3.1% and a 19c EPS beat. Despite the beat to Gordon Haskett’s model, Q3 was in line with management’s expectations and as such, the company narrowed its FY23 EPS guidance, with early Q4 2023 commentary reflecting trends are tracking in line with guidance, the firm adds.