Analyst Steven Zaccone of Citi maintained a Buy rating on Home Depot (HD – Research Report), retaining the price target of $433.00.
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Steven Zaccone has given his Buy rating due to a combination of factors that highlight Home Depot’s strategic positioning and growth potential. The company’s focus on the Pro customer segment is a significant driver, as Home Depot aims to capture the full scope of projects for professional contractors. This approach is supported by both organic growth and potential acquisitions, positioning Home Depot as a leader in the home improvement sector.
Additionally, Home Depot’s scale and infrastructure provide a competitive advantage, particularly in uncertain demand environments where large projects may be deferred. The company’s strategic investments in Pro-focused markets and enhanced delivery capabilities are expected to drive incremental sales. These initiatives, alongside a strong M&A strategy, underpin Zaccone’s confidence in Home Depot’s ability to gain market share and deliver long-term value to investors.
In another report released on June 23, Evercore ISI also maintained a Buy rating on the stock with a $400.00 price target.