In a report released yesterday, Simeon Gutman from Morgan Stanley maintained a Buy rating on Home Depot (HD – Research Report), with a price target of $450.00.
Simeon Gutman has given his Buy rating due to a combination of factors that highlight Home Depot’s strategic positioning and growth potential. One key aspect is the company’s enhanced supply chain capabilities, which allow for faster delivery times, significantly improving customer engagement for both professional and DIY segments. This operational efficiency positions Home Depot well for the next housing market cycle.
Additionally, Home Depot is poised to benefit from pent-up demand in the home improvement sector, as current spending levels are below historical averages. The company is also focusing on expanding its Pro customer segment through new capabilities and systems, which are expected to drive significant revenue growth. Furthermore, Home Depot’s strategic initiatives, such as leveraging best practices from SRS and pursuing organic growth, underscore its potential for sustained market share gains.
According to TipRanks, Gutman is a 4-star analyst with an average return of 2.1% and a 57.72% success rate. Gutman covers the Consumer Cyclical sector, focusing on stocks such as Advance Auto Parts, Tractor Supply, and Wayfair.
In another report released on February 26, Piper Sandler also maintained a Buy rating on the stock with a $435.00 price target.
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