Home Depot Analysts Raise Their Forecasts After Upbeat Q2 Results
Portfolio Pulse from Lisa Levin
Home Depot, Inc. (NYSE:HD) reported better-than-expected Q2 results, with a 2% YoY sales decline to $42.92 billion, beating the analyst consensus of $42.25 billion. EPS of $4.65 also beat the consensus of $4.46. The board authorized a new $15 billion share repurchase program. Following the earnings announcement, several analysts raised their price targets on Home Depot.
August 16, 2023 | 11:24 am
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Home Depot's better-than-expected Q2 results and new share repurchase program have led to raised price targets by analysts, indicating a positive outlook for the stock.
Home Depot's Q2 results exceeded expectations, which is a positive signal for investors. The announcement of a new share repurchase program also indicates the company's confidence in its stock, which can further boost investor sentiment. The raised price targets by analysts following the earnings announcement suggest a positive outlook for the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100