Where Will Home Depot Be in 1 Year?

Home Depot (NYSE: HD) thrived in a challenging operating environment in 2020. While shopping behavior was reshaped through the pandemic, the home improvement leader added over $15 billion to its sales base and booked soaring profits through the first three quarters of the year.

Those successes contributed to another market-beating year for shareholders, and Home Depot stock has more than doubled since early 2016. But the best might still be ahead for investors.

Let's look at a few reasons the chain could be setting new records in another year.

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Source Fool.com