Home Depot To $328? These Analysts Revise Price Targets On The Retailer Following Q3 Earnings

Home Depot Inc HD posted better-than-expected . earnings for its third quarter and reaffirmed its full-year outlook.

Home Depot said third-quarter revenue increased 5.6% year-over-year to $38.9 billion, which beat average analyst estimates of $38.01 billion. The retailer reported quarterly earnings of $4.24 per share, which beat average estimates of $4.13 per share.

Home Depot reaffirmed full-year 2022 comparable sales growth guidance of approximately 3%. The company also reaffirmed that it expects earnings per share growth to be in the mid-single digits.

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Home Depot shares gained 1.6% to close at $311.93 on Tuesday.

These analysts made changes to their price targets on Home Depot after the company released quarterly results.

• JP Morgan raised price target on Home Depot from $300 to $328. JP Morgan analyst Christopher Horvers maintained an Overweight rating on the stock.
• Piper Sandler slashed Home Depot price target from $327 to $323. Piper Sandler analyst Peter Keith maintained a Neutral rating on the stock.
• Raymond James analyst Bobby Griffin downgraded Home Depot from Outperform to Market Perform.