Home Depot price target raised to $415 from $410 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Home Depot (HD) to $415 from $410 and keeps an Overweight rating on the shares. The firm, which is raising its FY25 and FY26 EPS estimates by 0.4% and 0.6%, respectively, after the company reported Q1 results and reiterated FY25 guidance, notes that its target multiple is slightly above the current valuation, which it thinks is warranted given Home Depot is “a preferred cyclical stock in our coverage.”