Where Will Home Depot Stock Be in 1 Year?
Home Depot (NYSE: HD) investors might be pinching themselves right about now. Their stock has kept up with the rally in the S&P 500 over the past 12 months, allowing the home improvement giant to stand out from many of its struggling peers. It's not just the wider retailing industry that's under pressure, either. There's less demand for home improvement projects in the wake of the pandemic, and rising interest rates have pinched home sales as well.
Home Depot isn't immune to these challenges. The retailer recently announced another quarter of declining comparable-store sales, in fact.
Yet there were some bright spots in the mid-May report that have investors feeling optimistic that the business will recover its positive momentum. Let's take a closer look.
Source Fool.com
