In a report released yesterday, Robert Ohmes from Bank of America Securities reiterated a Buy rating on Home Depot (HD – Research Report), with a price target of $450.00.
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Robert Ohmes’s rating is based on Home Depot’s strategic initiatives and market positioning. Despite a slight decline in first-quarter earnings per share and comparable sales, Home Depot has shown resilience through its engagement in smaller projects and spring events, which have helped offset pressures from larger remodeling projects. The company’s reaffirmed guidance for 2025, including a 1% growth in comparable sales, and its portfolio approach to pricing demonstrate a proactive strategy to navigate the current economic environment.
Additionally, Home Depot’s focus on enhancing its Pro capabilities, particularly through the integration of SRS Distribution, has led to increased engagement with professional customers. The performance of SRS exceeded expectations, contributing significantly to sales growth. With these factors, combined with a well-positioned strategy to manage tariffs and potential reductions in financing rates, Robert Ohmes believes Home Depot is poised for continued market share gains, justifying his Buy rating and a price objective of $450.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $470.00 price target.
HD’s price has also changed slightly for the past six months – from $400.000 to $377.050, which is a -5.74% drop .
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