Jefferies Reiterates on Home Depot Following Solid 3Q Print

In a report published Wednesday, Jefferies analyst Daniel Binder reiterated a Buy rating and $94.00 price target on Home Depot HD. In the report, Jefferies noted, “Home Depot reported a solid 3Q print, with beats to Street expectations on the top and bottom lines. Full-year guidance was raised to reflect the Q3 beat and strong start to Q4. Management's outlook seems more upbeat than at the end of Q2 as rising home prices fuels optimism around home improvement spend. Nonetheless, HD share performance likely remains interest rate sensitive.” Home Depot closed on Tuesday at $80.38.