(News Bulletin 247) – While maintaining its ‘neutral’ view on Home Depot, Wedbush raised its price target from $290 to $350, in the wake of an increase in its estimates for the home renovation chain the day after its quarterly.
While he acknowledges that the group has unveiled figures above consensus for both the top and bottom of the income statement, the broker points out that they have generally been in line with expectations on the part of buyers.
While Home Depot has been content to maintain its annual targets, Wedbush remains ‘neutral’ at this stage on the matter, ‘given the macroeconomic uncertainties and pressures that may persist for 2024’.
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