Piper Sandler Upgrades Home Depot to Overweight, Raises Price Target to $400
Portfolio Pulse from Benzinga Newsdesk
Piper Sandler analyst Peter Keith has upgraded Home Depot (NYSE:HD) from Neutral to Overweight and increased the price target from $311 to $400, indicating a positive outlook for the company's stock.

January 16, 2024 | 11:08 am
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POSITIVE IMPACT
Home Depot's stock may see a positive short term impact due to Piper Sandler's upgrade from Neutral to Overweight and a significant raise in the price target from $311 to $400.
Analyst upgrades typically lead to a positive short term reaction in the stock market as they suggest a better-than-previously-expected performance and outlook for the company. The substantial increase in the price target from $311 to $400 by Piper Sandler is likely to be viewed as a strong endorsement of Home Depot's future prospects, potentially leading to increased investor confidence and a rise in stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100