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Most Analysts Suggest a ‘Buy’ for Home Depot ahead of Q2 Earnings

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Aug. 8 2018, Updated 9:01 a.m. ET

Analysts’ recommendations

Of the 34 analysts that follow Home Depot (HD), 76.5% favor a “buy,” while the remaining 23.5% favor a “hold.” None of the analysts are recommending a “sell” option.

As of August 6, Home Depot was trading at a stock price of $195.69. On the same day, analysts set an average price target of $212.55, which represents a return potential of 8.6% from its current stock price. Since the announcement of its first-quarter earnings, UBS, Jeffries, and Deutsche Bank have revised their price targets. UBS raised its price target from $212 to $225 on June 20, while maintaining its “buy” rating. On May 16, Jeffries cut its price target from $223 to $218, while Deutsche Bank has lowered its price target from $212 to $210.

Currently, Home Depot is trading below analysts’ average price target. However, this does not mean an automatic “buy.” Investors are advised to analyze analysts’ estimates discussed in our earlier articles before making any investment decisions.

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Peer comparisons

The price target and return potential of Home Depot’s peers are as follows:

  • Lowe’s (LOW) has a price target of $108.61, which represents a return potential of 11.1% from its current stock price of $97.75.
  • Williams-Sonoma (WSM) has a price target of $54.84, which represents a fall of 5.3% from its current stock price of $57.93.
  • Bed Bath & Beyond (BBBY) has a price target of $17.75, which represents a fall of 4.3% from its current stock price of $18.55.
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