Home Depot price target lowered to $406 from $444 at Goldman Sachs

Goldman Sachs analyst Kate McShane lowered the firm’s price target on Home Depot (HD) to $406 from $444 and keeps a Buy rating on the shares. Home Depot reported an EPS miss and lowered FY25 guidance, with the company’s assumption the consumer environment would improve sequentially not coming to fruition and the housing backdrop remained pressured, the analyst tells investors in a research note. The company is poised to accelerate growth when the macro environment improves but is also well positioned to take share given its ongoing investments and acquisitions, Goldman Sachs argues.