Analysts lowered Home Depot’s price targets to $375 and $340 following modest Q1 earnings amid weak housing demand.
TD Cowen reduced its price target for Home Depot (HD) to $375 from $450 while maintaining a Buy rating. The firm cited solid execution in a challenging market but warned conditions may remain difficult longer than expected.
RBC Capital Markets cut its target to $340 from $377, keeping a Sector Perform rating. The analyst noted a modest earnings beat but highlighted persistent weakness in housing turnover and a worsening demand outlook.
Both firms pointed to M&A integration and cost pressures as key factors, though RBC struggled to identify clear catalysts for a financial rebound.