DA Davidson analyst Michael Baker raised the firm’s price target on Home Depot (HD) to $466 from $430 and keeps a Buy rating on the shares. The firm is also adding the stock to its “Best-of-Breed Bison” which filters for best in class companies with sustainable moats and favorable risk / reward dynamics. The stock is trading at a discount to intrinsic value, while the company also stands out given its favorable market dynamics, dominant market position / sustainable edge, high margins, and a shareholder-oriented management, the analyst tells investors in a research note.
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