On May 27, Home Depot rose 3.28% in regular trading, trading at $318.64/share, with trading volume of $288 million. The stock continued to gain momentum following its Q1 earnings report and broad analyst endorsement.
On the news front, Home Depot posted Q1 sales growth of approximately 5% to $41.8 billion, with comparable-store sales rising 0.6%. The company reaffirmed its fiscal full-year guidance despite macro headwinds including elevated interest rates and delayed large-scale renovation projects. While several firms trimmed target prices — Wells Fargo lowered its target from $375 to $360, and Argus reduced its target from $425 to $400 — all maintained buy or overweight ratings. Jefferies kept its buy rating with a $454 target. The Wall Street consensus rating stands at Strong Buy with a mean target price of approximately $389, implying over 20% upside from current levels.
RBC Capital Markets noted risks to guidance attainment given a weak consumer backdrop and higher cost outlook, though acknowledged easier year-over-year comparisons in the second half. The broader Home Improvement Retail sector traded higher, with Lowe's up 3.12% and Floor & Decor up 3.52%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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