UPDATE: Goldman Sachs Maintains Neutral On Home Depot
In a report published Wednesday, Goldman Sachs analyst Matthew Fassler maintained a Neutral rating on Home Depot (NYSE: HD) and raised the target price from $86.00 to $90.00.
In the report, Goldman Sachs says "HD delivered distinctively strong and (straightforward) numbers in a retail backdrop otherwise characterized by fragile top-line and margin trends. The company is benefiting from a housing tailwind, driving remodeling spending - DIY is clearly taking share of wallet; successfully implementing ecommerce innovation at its own pace; operating in a rational setting; and, continuing to execute smoothly, as evidenced by ongoing supply chain leverage. Its SSS increase was one of the strongest in retailing, a notable impressive achievement given its scale. As we expected, HD held back less of its gross profit upside, generating incremental margins in line with 2Q despite a slower sales increase, showcasing its earnings power."
The Home Depot closed on Tuesday at $80.38.
Latest Ratings for HD
|Aug 2016||Deutsche Bank||Maintains||Buy|
|Aug 2016||Argus Research||Maintains||Buy|
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