Telsey Advisory analyst Joseph Feldman lowered the firm’s price target on Home Depot (HD) to $410 from $430 and keeps an Outperform rating on the shares. While Home Depot is a strong retailer, the sector is several years into a challenging home improvement market, the analyst tells investors. The firm believes the industry is in a bottoming phase but notes there will likely not be much improvement until 2027 and beyond. Overall, the firm continues to believe Home Depot will be a long-term winner in retail.
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