Home Depot Poised For Long-Term Win In Retail Despite Current Macro Challenges: Analyst
Portfolio Pulse from Nabaparna Bhattacharya
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.

October 04, 2023 | 6:44 pm
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Home Depot's price target and estimates have been lowered due to macroeconomic factors. The company is expected to face near-term pressure, but its long-term prospects remain strong.
The analyst's lowering of Home Depot's price target and estimates due to macroeconomic factors indicates a potential negative impact on the company's stock in the short term. However, the company's strong long-term prospects could mitigate this impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100