Is Home Depot Stock Going to $426? 1 Wall Street Analyst Thinks So.
A couple of analyst updates have highlighted that Home Depot (NYSE: HD) is one of the most fascinating stocks on the market. Here's some information investors should consider before buying the stock.
Jefferies reinstated coverage of Home Depot and immediately slapped a $426 price target on the stock, along with a buy rating. The analyst cited the recent acquisition of residential specialty trade-distribution company SRS Distribution for an enterprise value of $18.25 billion. The price target implies a 16% upside to the current price.
Stifel, on the other hand, gave the company a price-target upgrade from $374 to $380, which implies less than 4% upside and comes with a hold rating. The Stifel analyst cut earnings estimates for Home Depot in 2024 and 2025, due to the integration of SRS.
Source Fool.com
