Guggenheim analyst Steven Forbes raised the firm’s price target on Home Depot to $390 from $370 and keeps a Buy rating on the shares. Q4 operating results were broadly in-line with consensus expectations, but a slight beat versus the firm’s expectations, notes the analyst. When combined with that fact that monthly comps were relatively consistent across the quarter and the firm’s optimism around HD‘s PRO initiatives, the firm is raising its out-year estimates, the analyst noted.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
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
