Home Depot price target raised to $417 from $386 at Truist

Truist raised the firm’s price target on Home Depot to $417 from $386 and keeps a Buy rating on the shares. The company’s $18.25B acquisition of SRS Distribution – a leading roofing/building products distributor – expands its Pro capabilities and adds about $50B in total addressable market, the analyst tells investors in a research note. Home Depot earnings per share should decline by “just a few cents” due to higher Depreciation and Amortization, but should be cash accretive, the firm added.