Analyst Kate McShane of Goldman Sachs maintained a Buy rating on Home Depot, retaining the price target of $444.00.
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Kate McShane’s rating is based on several strategic initiatives and positive outlooks shared by Home Depot’s management. The company has maintained its capital allocation priorities, focusing on investments in store improvements and supply chain enhancements, which are expected to drive business growth. Additionally, Home Depot’s recent acquisitions, such as SRS and GMS, are strategically aimed at expanding their Pro business, particularly in remodeling and renovation projects, thereby enhancing their service offerings and market reach.
Moreover, the management’s optimistic view on the macroeconomic environment and successful mitigation of tariff impacts further support the Buy rating. The company’s investments in improving delivery speed have shown promising results, indicating operational efficiency. These factors, combined with Home Depot’s strong commitment to returning capital to shareholders through dividends and share repurchases, underpin the positive outlook for the stock.
In another report released on August 25, Telsey Advisory also reiterated a Buy rating on the stock with a $455.00 price target.
HD’s price has also changed slightly for the past six months – from $389.690 to $407.710, which is a 4.62% increase.