Shares of Home Depot Inc (NYSE:HD) tanked on Wednesday, despite the company’s solid fourth-quarter report.
Here are the key analyst insights:
- Guggenheim Securities analyst Steven Forbes reaffirmed a Buy rating, raising the price target from $400 to $425.
- DA Davidson analyst Michael Baker reiterated a Buy rating, and upped the price target from $407 to $445.
- Telsey Advisory Group analyst Joseph Feldman maintained an Outperform rating and raised the price target from $410 to $435.
- BofA Securities analyst Robert Ohmes maintained a Buy rating and a $430 price target.
Check out other analyst stock ratings.
Guggenheim Securities: Home Depot’s operating results for the fourth quarter “broadly exceed our estimates,” Forbes said in a note. He cited a comp upside of around 60 basis points and adjusted EBITDA higher by about 3.5%
Continued progress and scaling behind the company’s various PRO ecosystem initiatives include:
- Order management & digital project planning tools
- Trade credit platform
- Job site delivery plus real-time tracking for big & bulky orders
- Various AI-enabled tools
- External sales force
Expect maturation of these initiatives “to widen the company’s …