Can Home Depot Survive The Current Hosing Market Headwinds? Analyst Discusses Future
Portfolio Pulse from Shivani Kumaresan
Telsey Advisory Group analyst Joseph Feldman reiterated a Market Perform rating on Home Depot Inc (HD) with a $315 price target. Despite a decline in 2Q23 EPS and a tough consumer spending environment, Home Depot's sales exceeded estimates. The analyst also noted that Home Depot's better-than-expected sales could bode well for Lowe's Companies Inc (LOW). HD shares are currently trading higher by 0.55% at $331.7.
August 15, 2023 | 6:26 pm
News sentiment analysis
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POSITIVE IMPACT
Despite a tough market, Home Depot's sales exceeded estimates, which could positively impact the stock.
The analyst's positive rating and the company's better-than-expected sales performance could boost investor confidence and drive the stock price up.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Home Depot's better-than-expected sales could bode well for Lowe's Companies Inc.
As Home Depot and Lowe's operate in the same industry, positive performance from one could indicate a similar trend for the other, potentially driving Lowe's stock price up.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60