Morgan Stanley Maintains Overweight on Home Depot, Lowers Price Target to $335
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Simeon Gutman has maintained an Overweight rating on Home Depot (NYSE:HD) but reduced the price target from $350 to $335. This adjustment reflects a more conservative valuation of the company's stock.

November 15, 2023 | 2:31 pm
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Morgan Stanley has maintained its Overweight rating on Home Depot but lowered the price target from $350 to $335, indicating a slightly reduced but still positive outlook on the stock.
The reduction in price target by Morgan Stanley suggests a more cautious view on Home Depot's future stock performance. However, maintaining an Overweight rating indicates that the analyst still sees the stock outperforming the broader market or sector. The impact on the stock price may be neutral to slightly negative in the short term as the market digests the new price target, which is lower but not significantly different from the previous one.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100