Market Overview

UPDATE: Goldman Sachs Maintains Neutral On Home Depot

Related HD
Retail Sector Earnings: Performances Remain Mixed Heading Into Q2 Reports
Jim Cramer Shares His Thoughts On Home Depot, Celgene And More
Dividend Sensei's Portfolio Update 43: The 3 Essential Things All Investors Need To Get Rich (Seeking Alpha)

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

Jun 2018UBSMaintainsBuyBuy
Apr 2018Wells FargoInitiates Coverage OnOutperform
Mar 2018Loop CapitalInitiates Coverage OnHold

View More Analyst Ratings for HD
View the Latest Analyst Ratings

Posted-In: Goldman Sachs Matthew FasslerAnalyst Color Reiteration Analyst Ratings


Related Articles (HD)

View Comments and Join the Discussion!