RBC Capital lowered the firm’s price target on Home Depot (HD) to $366 from $376 and keeps a Sector Perform rating on the shares after attending the company’s Investor Day presentation. The firm maintains that the company is very well-positioned for an eventual housing recovery, but the timing of that recovery might be further in the future than many are hoping for, the analyst tells investors in a research note. The prospect of lower rates will continue to put upward pressure on shares, but shares already seem to be embedding a fairly rapid housing recovery, RBC added.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HD:
- Home Depot price target lowered to $407 from $430 at DA Davidson
- Home Depot price target lowered to $430 from $445 at UBS
- Home Depot price target lowered to $395 from $400 at Wells Fargo
- Home Depot price target lowered to $441 from $450 at Piper Sandler
- Home Depot’s Strategic Positioning and Growth Potential: A Buy Recommendation by Christopher Horvers