Skip to main content

Market Overview

UPDATE: Goldman Sachs Reiterates on Home Depot as Stock is Still Clicking on All Cylinders

Share:

In a report published Wednesday, Goldman Sachs analyst Matthew J. Fassler reiterated a Neutral rating on Home Depot (NYSE: HD), and raised the price target from $86.00 to $90.00.

In the report, Goldman Sachs noted, “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.”

Home Depot closed on Tuesday at $80.38.

Latest Ratings for HD

DateFirmActionFromTo
Jan 2021GuggenheimUpgradesNeutralBuy
Dec 2020Morgan StanleyMaintainsOverweight
Nov 2020Gordon HaskettUpgradesAccumulateBuy

View More Analyst Ratings for HD
View the Latest Analyst Ratings

 

Related Articles (HD)

View Comments and Join the Discussion!

Posted-In: Goldman Sachs Matthew J. FasslerAnalyst Color Price Target Analyst Ratings

Latest Ratings

StockFirmActionPT
FSRMorgan StanleyMaintains40.0
NATJefferiesMaintains2.8
MEDDA DavidsonMaintains302.0
VICRBWS FinancialMaintains120.0
PSXMizuhoMaintains96.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
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.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
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