Telsey Advisory lowered the firm’s price target on Home Depot to $325 from $330 and keeps a Market Perform rating on the shares. The analyst maintained the firm’s Q3 estimates for Home Depot, but lowered projections for Q4 and 2024. Weak sales data from the government and Q3 results from other home improvement retailers have solidified concerns about the near-term home improvement environment, the analyst tells investors in a research note. Telsey expects persistent softness in the housing market to continue weighing on industry demand.
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