Home Depot: Jefferies raises target price

(CercleFinance.com) - Jefferies maintains its Buy rating on Home Depot shares, with a target price raised from $365 to $412 (cp: $371, +2%).


The analyst is nearly 100 basis points above management forecasts. Jefferies believes that the housing sector will be positive, rather than neutral.

The broker estimates that by end-2024, Home Depot will benefit from trade credits, new fulfillment capabilities, a more localized product range, an expanded sales force and an enhanced digital experience in 17 of the top professional markets.


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