1 Wall Street Analyst Thinks Home Depot Stock Is Going to $445. Is It a Buy?

A Wells Fargo analyst recently nudged the company's price target on Home Depot (NYSE: HD) stock lower, from $450 to $445, and maintained an overweight rating on the stock. The new target represents a 13% premium to where the stock is trading as I write this and is a sign that the worst might be over for the housing-improvement market.Recent results from Home Depot and rival Lowe's (NYSE: LOW) gave cause for optimism that growth is returning. Lowe's comparable sales increased by 0.2% in its fourth quarter, and management expects comparable sales to be flat to up 1% for the full year.Turning back to Home Depot, its comparable sales were up 0.8% in the fourth quarter, with comparable transactions up 0.6% and its comparable average ticket price up 0.2%. In concert with Lowe's, Home Depot's management expects 1% comparable sales growth in 2025.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool