Piper Sandler lowered the firm’s price target on Home Depot (HD) to $422 from $441 and keeps an Overweight rating on the shares ahead of big box earnings in the next two weeks. For home improvement, the firm continues to expect home remodel demand to “normalize” in the first half of the year. For Target (TGT) and Best Buy (BBY), Piper believes both are a bit challenged with traffic.
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