Street View: Home Depot nails execution amid stagnant housing market

Home Depot's HD.N quarterly earnings topped analysts' estimates on Tuesday despite sluggishness in the U.S. housing market, buoyed by resilient demand from professional contractors and minor repairs by budget-strapped customers

Median PT of 38 brokerages covering the stock is $415 - LSEG-compiled data

HOUSE IN HOLD MODE

Jefferies ("buy", PT: $454) says co’s lack of dispersion in comparable‑sales trends across markets experiencing varied home‑price trends reaffirms its view that it is "still in the first inning of a nine‑inning housing recovery”

D.A. Davidson ("buy", PT: $445) says the biggest issues facing HD remain macro‑related; and while housing data is still decidedly mixed, with some indicators weakening, other signs are improving, "suggesting we may be inching closer to a recovery"

RBC Capital Markets ("sector perform", PT: $377) says HD is executing well, but the lack of triggers to boost housing turnover is leading to a muted EPS growth outlook

Morningstar (fair value: $325) says key drivers of home‑improvement spending, including home prices and turnover, remain muted, with no near‑term catalyst in sight