Can Home Depot (NYSE: HD) Reach the $390 Price Target? Analysts Provide Perspective

Friday, 17 May 2024, 07:11

Analysts at financial firms have adjusted Home Depot's price target to $390 post a decline in sales. Despite the negativity, one analyst still maintains an optimistic outlook, foreseeing a recovery and a 13% upside potential. The debate hinges on interest rates, economic uncertainty, and geopolitical tensions
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Can Home Depot (NYSE: HD) Reach the $390 Price Target? Analysts Provide Perspective

Home Depot Stock Forecast

The forecast for Home Depot stock ($HD) sees a price target of $390 amidst sales decline. Analysts from HSBC, UBS, TD Cowen, and Evercore ISI have revised their estimates following the recent quarterly report. The recovery prospects remain subject to debate due to economic uncertainties.

The Bullish Case

Analysts believe that the current weakness in the housing market is temporary and will bounce back with improving conditions. However, factors like high interest rates and ongoing geopolitical tensions may impact the projected recovery.

Caution Ahead

While history indicates a potential reversal in the housing market, uncertainties loom large. Interest rate fluctuations, trade tensions, and economic outlooks create a challenging backdrop for Home Depot stock investors. Close monitoring is advised.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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