BofA raised the firm’s price target on Home Depot to $400 from $372 and keeps a Buy rating on the shares. Q4 results came in ahead of the Street view, but the firm lowered its FY25 EPS estimate to $15.25 from $16.16 as a lower comp forecast of (1%), down from 2% previously, more than offsets the benefit of the 53rd week in 2024. However, the firm raised its price target based on a higher multiple given rising peer and market multiples, the analyst tells investors.
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