Wells Fargo lowered the firm’s price target on Home Depot (HD) to $395 from $400 and keeps an Overweight rating on the shares following Analyst Day. While the quality of Home Depot’s model was on display, recovery timing is still elusive and 2026 estimates inch lower amid flattish category growth. But initiatives encouraged, share gains persist and near-term risk/reward is favorable into stimulus, Wells adds.
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