Home Depot price target raised to $390 from $375 at Truist

Truist raised the firm’s price target on Home Depot (HD) to $390 from $375 and keeps a Buy rating on the shares as part of a broader research note previewing 2026 for Hardlines/Broadlines Consumer names. With some slower consumer trends in the second half of FY25 consumers will remain choiceful in their shopping patterns, with a continued focus on “Value”, the analyst tells investors in a research note. For the company, Truist notes that with over $35 trillion of home equity essentially sitting on the sidelines and recent rate cuts, homeowners have a tremendous amount of “dry powder” to reinvest in the household’s single biggest asset, adding that as long as existing home supply remains lean and home prices are flat-to-up, the firm remains bullish on the home improvement space.