Market Overview

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

Share:
Related HD
A Guide To Guessing Where Amazon Is Going
'Amazon Is Playing Hardball': Home Improvement Chains Slide After Kenmore, Alexa Join Forces
Insight Capital Research & Management Inc Buys Amazon. ... (GuruFocus)

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
May 2017Atlantic EquitiesDowngradesOverweightNeutral
Feb 2017Morgan StanleyUpgradesEqual-WeightOverweight
Feb 2017BernsteinInitiates Coverage OnMarket Perform

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!