Street View: Demand pickup still on the cards for Home Depot; investor day in focus
Home improvement company Home Depot HD.N projected a full-year profit drop after missing Q3 earnings estimates, as tariff-driven uncertainty cooled demand for major renovations and DIY projects.
Median PT of 39 brokerages covering the stock is $417.5 - data compiled by LSEG
RATES DROP? HD READY TO BUILD
J.P. Morgan ("overweight," PT: $423) views the pullback as a buying opportunity, expecting factors like replacement cycle demand, lower rates, tax stimulus and reduced uncertainty to outweigh near-term headwinds
TD Cowen ("buy," PT: $410) expects HD’s analyst Day to spotlight its Complex Pro (professional contractor segment) growth plans, DIY market share opportunities, tech and AI initiatives, and the broader macro outlook
Morningstar (fair value: $335) says existing home sales and prices remain positive, supporting category spending, but sales momentum is unlikely until 30-year mortgage rates fall below 6%, which could spur more homeowners to move
Piper Sandler ("overweight," PT: $450) says co is well positioned to capture demand once large project remodel spending returns, which it expects in early 2026 aided by tax refund activity
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