Home Depot initial FY26 market assumption looks ‘conservative,’ says Stifel

Stifel analyst W. Andrew Carter continues with a Hold rating on Home Depot (HD) and says the firm’s outlook largely remains intact with FY26 now at the high end of the company’s initial outlook, including 2% comparable sales growth. The firm views the initial FY26 guidance predicated on a down 1% to up 1% underlying market as “conservative” with Home Depot balancing the absence of a clear inflection and consumer uncertainty against numerous home improvement category tailwinds, adds the analyst, who keeps a $350 price target on the shares.