Market Overview

UPDATE: Goldman Sachs Maintains Neutral On Home Depot

Share:

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

DateFirmActionFromTo
Nov 2019MaintainsOverweight
Nov 2019MaintainsHold
Nov 2019MaintainsHold Neutral

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!

Latest Ratings

StockFirmActionPT
POWLSidoti & Co.Maintains47.0
XDeutsche BankInitiates Coverage On121.0
WTEBMO CapitalMaintains18.0
DOLBMO CapitalMaintains50.0
NABMO CapitalMaintains69.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Benzinga's Top #PreMarket Gainers

UPDATE: Cantor Fitzgerald Downgrades Twitter on Current Valuation