FMP

FMP

Enter

Morgan Stanley Maintains "Overweight" Rating on Home Depot (NYSE:HD)

-

twitterlinkedinfacebook
blog post cover photo

Image credit: Google Images

  • Morgan Stanley has reaffirmed its "Overweight" rating on Home Depot (NYSE:HD) and increased the price target from $380 to $450.
  • Home Depot faces earnings challenges due to a weak housing market and consumer sentiment but is expected to see improvement as these macroeconomic issues ease.
  • The stock's current valuation is considered expensive by some analysts, despite the positive growth outlook and active investor interest.

On October 21, 2024, Morgan Stanley maintained its "Overweight" rating for Home Depot (NYSE:HD), a leading home improvement retailer. At the time, the stock was priced at about $415.39. Morgan Stanley also increased Home Depot's price target from $380 to $450, as highlighted by TheFly. This reflects confidence in Home Depot's potential for future growth.

Home Depot has a strong history of long-term earnings growth, primarily driven by expanding its retail network. However, recent quarters have shown some earnings challenges due to a weak housing market and consumer sentiment. These macroeconomic issues are expected to gradually improve, which could positively impact Home Depot's performance.

Despite the positive growth outlook, some analysts consider Home Depot's current stock valuation to be expensive. The stock is currently priced at $410.08, a decrease of $4.92 or -1.19% today. It has traded between $409.73 and $416.56 during the day, with a 52-week high of $421.56 and a low of $274.26.

Home Depot's market capitalization is approximately $407.33 billion, indicating its significant size in the retail sector. Today's trading volume for HD is 747,138 shares on the NYSE, showing active investor interest. As macroeconomic challenges ease, Home Depot's stock may align more closely with Morgan Stanley's optimistic price target.

Other Blogs

Sep 10, 2024 11:33 AM - Parth Sanghvi

Best Alternatives to Yahoo Finance for Downloading Historical Stock Data

When it comes to downloading historical stock data, Yahoo Finance has been a popular choice for many. However, for those looking for more comprehensive, accurate, and flexible options, Financial Modeling Prep (FMP) offers a suite of powerful tools and services that stand out as superior alternatives...

blog post title

Nov 8, 2024 10:30 AM - Sanzhi Kobzhan

Understanding Equity Valuation: When to Use DCF, DDM, and Price-Income (Multiplicators) Models

When it comes to investing in stocks, one of the key decisions an investor must make involves determining the intrinsic value of a company's shares. Equity valuation isn't just about numbers, it's an art mixed with science, aiming to predict future performance based on current and historical data. H...

blog post title

Nov 22, 2024 10:08 AM - Parth Sanghvi

Fundamental Analysis: Principles, Types, and How to Use It

Fundamental analysis is one of the most essential tools for investors and analysts alike, helping them assess the intrinsic value of a stock, company, or even an entire market. It focuses on the financial health and economic position of a company, often using key data such as earnings, expenses, ass...

blog post title
FMP

FMP

Financial Modeling Prep API provides real time stock price, company financial statements, major index prices, stock historical data, forex real time rate and cryptocurrencies. Financial Modeling Prep stock price API is in real time, the company reports can be found in quarter or annual format, and goes back 30 years in history.
twitterlinkedin
2017-2025 © Financial Modeling Prep