This Stock Just Raised Its Sales Forecast, But Does That Make It a Buy?
Sales surged for Home Depot (NYSE: HD) at the pandemic's onset. Folks took on home improvement projects at a blistering pace after the outbreak forced people to work, learn, and entertain themselves at home. Suddenly, houses needed to adapt to fit the changes in people's lifestyles.
Since the economic reopening started gaining momentum in 2021, Home Depot has been expecting sales to moderate. For fiscal 2022, management had forecast sales to remain flat for the year. However, consumer demand for home improvement has remained resilient, leading Home Depot to raise its sales outlook for the rest of 2022.
The good news has some investors are asking if Home Depot stock is a buy as a result. Let's take a look.
Source Fool.com
