Telsey Advisory Group analyst Joseph Feldman has reiterated the Market Perform rating on Home Depot, Inc. (NYSE:HD), but lowered the price target to $330 from $335 due to higher interest, inflation, and other macro factors. Feldman also lowered 3Q23 and annual estimates for Home Depot. The company is expected to face near-term pressure due to the challenging macro backdrop, soft housing market trends, and lower spending on home improvement. However, in the long term, Home Depot is expected to be a winner in retail due to its best-in-class execution, digital prowess, and work-from-home arrangements.