Home Depot price target raised to $360 from $335 at Telsey Advisory

Telsey Advisory raised the firm’s price target on Home Depot to $360 from $335 and keeps a Market Perform rating on the shares. The firm believes Home Depot’s acquisition of SRS strengthens its market positioning and growth potential, the analyst tells investors. However, the firm continues to believe the stock will be tempered in the near term due to the home improvement environment remaining soft. Overall, Telsey is waiting for clear signs the housing market is improving and consumers are taking on more projects for the stock to return to outperformance.