J.P. Morgan analyst Christopher Horvers has maintained their bullish stance on HD stock, giving a Buy rating today.
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Christopher Horvers has given his Buy rating due to a combination of factors that underscore Home Depot’s structural strengths despite near-term weather and mix headwinds. His store visits again confirmed that Home Depot maintains the highest absolute traffic and sales volumes, supported by healthy activity in both DIY and Pro channels, as well as resilient big-ticket categories like appliances, flooring, and bath, which are benefitting from modest price inflation.
At the same time, he views recent relative strength at Lowe’s and weather-driven volatility as cyclical rather than indicative of a shift in long-term competitive positioning. Survey data from Nielsen, Circana, and Numerator show improving outdoor and home-improvement demand overall, suggesting a supportive backdrop for the category into late spring and Memorial Day, periods that are critical for seasonal sales. Taken together, Horvers sees Home Depot as well positioned to capture ongoing demand, justifying a Buy rating on the stock.
Horvers covers the Consumer Cyclical sector, focusing on stocks such as Home Depot, Floor & Decor Holdings, and Advance Auto Parts. According to TipRanks, Horvers has an average return of 8.1% and a 59.79% success rate on recommended stocks.
In another report released today, Bank of America Securities also initiated coverage with a Buy rating on the stock with a $374.00 price target.