Morgan Stanley Reaffirms Home Depot's Positive Outlook And Potential EBIT Margin Expansion
Portfolio Pulse from Shivani Kumaresan
Morgan Stanley analyst Simeon Gutman reaffirmed an Overweight rating on Home Depot Inc (NYSE:HD) with a price target of $320. The analyst expects long-term EBIT growth to outpace sales growth, implying margin expansion. Home Depot's 2023 Investor Conference is scheduled for June 13, 2023.
June 12, 2023 | 6:06 pm
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Morgan Stanley analyst Simeon Gutman reaffirmed an Overweight rating on Home Depot Inc (NYSE:HD) with a price target of $320, expecting long-term EBIT growth to outpace sales growth.
The reaffirmed Overweight rating and price target of $320 by Morgan Stanley analyst Simeon Gutman indicate a positive outlook for Home Depot. The expectation of long-term EBIT growth outpacing sales growth implies margin expansion, which could positively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100