Home Depot Poised For Long-Term Win In Retail Despite Current Macro Challenges: Analyst


Telsey Advisory Group analyst Joseph Feldman reiterated the Market Perform rating on Home Depot, Inc. (HD), lowering the price target to $330 from $335. Feldman lowered 3Q23 and annual estimates for Home Depot owing to higher interest, inflation, and other macro factors that have intensified and beyond anticipation since the end of August.

Home price appreciation is slowing, and real disposable income has been under pressure due to inflation and higher interest rates—both of which historically have led to lower spending on home improvement, the analyst cautioned.

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