Stifel Maintains Hold Rating for Home Depot: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Stifel has maintained a Hold rating for Home Depot (NYSE:HD) but lowered its price target from $350.00 to $306.00. Home Depot's shares are currently trading down at $288.51, which is a 1.06% decrease over the last 24 hours. The new price target suggests a potential upside of 6.06% from the current share price. Home Depot is the world's largest home improvement specialty retailer with a wide range of products and services, and has expanded through acquisitions such as Interline Brands and HD Supply.
November 13, 2023 | 5:00 pm
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Stifel maintains a Hold rating on Home Depot and lowers the price target to $306, indicating a potential 6.06% increase from the current price of $288.51.
The maintenance of a Hold rating combined with a lowered price target may suggest that Stifel sees limited upside potential for Home Depot in the short term. The reduction in the price target could lead to a tempered investor outlook, but since the rating remains a Hold and not a Sell, the immediate impact on the stock price might be neutral. The potential upside of 6.06% indicates that Stifel still sees some growth opportunity, albeit less than before.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100