The Home Depot, Inc. (NYSE:HD) is included among the 10 High Quality Stocks to Buy According to Hedge Funds.
On May 20, DA Davidson analyst Michael Baker lowered the firm’s price recommendation on The Home Depot, Inc. (NYSE:HD) to $377 from $445
It reiterated a Buy rating on the shares. The analyst noted that the stock turned slightly positive after its initial post-earnings decline. He said that may have been tied to commentary during the earnings call, suggesting that May trends improved after sales weakened in the second half of April, apparently due to weather conditions.
Baker also said the recent rise in interest rates is likely to delay the timing of a broader macro recovery. That view was reflected in the firm’s reduced price target. The same day, RBC Capital analyst Steven Shemesh lowered the firm’s price target on HD to $340 from $377 and kept a Sector Perform rating on the stock following its Q1 results.