Market Overview

UPDATE: Canaccord Genuity Lowers Price Target on Home Depot to $54 on Slowing Sales Momentum

Share:
Related HD
Holiday Shopping and Retail Sector Impact
Andrew Keene's Home Depot Options Trade
3 Reasons Home Depot Is A Far Better Buy Than Lowe's (Seeking Alpha)

In a report published Tuesday, Canaccord Genuity maintained its Hold rating and lowered the price target on Home Depot's (NYSE: HD) from $57 to $54.

Canaccord Genuity reported that, “HD reported operating EPS of $0.67, excluding a $0.01 benefit related to earlier store closure charges, versus our $0.63 estimate and consensus of $0.64. Q4 SSS increased 7% on top of +5.7%, versus Lowe's (LOW: NYSE: $35.86 | SELL) +1.9% on top of +3.4%. Based on the $242MM in storm-related sales, we calculate Hurricane Sandy added roughly 200bps to SSS.”

Home Depot shares closed at 67.10 on Monday.

Latest Ratings for HD

DateFirmActionFromTo
Oct 2016PiperJaffrayDowngradesOverweightNeutral
Aug 2016Deutsche BankMaintainsBuy
Aug 2016CitigroupMaintainsBuy

View More Analyst Ratings for HD
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color Price Target Analyst Ratings

 

Related Articles (HD + LOW)

View Comments and Join the Discussion!