Citi analyst Steven Zaccone has maintained their bullish stance on HD stock, giving a Buy rating today.
Steven Zaccone has given his Buy rating due to a combination of factors including Home Depot’s recent performance and future potential. The company reported a positive fourth-quarter result, with same-store sales (SSS) growth of 0.8%, surpassing market expectations and marking the first instance of SSS growth in over two years. This growth was driven by increased customer engagement in home improvement spending, despite challenges in larger projects.
Additionally, Home Depot’s adjusted earnings per share (EPS) for the fourth quarter exceeded the Street’s estimates, demonstrating strong top-line performance. Although the initial guidance for fiscal year 2025 fell slightly below Street expectations, the management’s commentary suggests that the guidance could be conservative. These factors collectively contribute to Zaccone’s optimistic outlook on Home Depot’s stock, justifying his Buy rating.
In another report released today, Barclays also maintained a Buy rating on the stock with a $420.00 price target.