Home Depot Inc (NYSE:HD) reported an earnings beat for the fourth quarter, driven by a modest sales upside and better-than-expected gross margins, according to JPMorgan analyst Christopher Horvers.
The Home Depot Analyst: Horvers reiterated an Overweight rating on the stock.
The Home Depot Thesis: The company reported earnings of $2.72 per share, topping Street expectations of $2.53 per share, and U.S. comps growth of 0.3% came in above the consensus decline of 0.3%, Horvers said.
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The Atlanta-based company’s gross margins of 32.6% were down 20 basis points year-on-year …