Wells Fargo analyst Zachary Fadem raised the firm’s price target on Home Depot (HD) to $450 from $440 and keeps an Overweight rating on the shares. The firm says it leans on Home Depot in the tougher tape considering improving Q4 checks, signs the last cut is in and potential for 2025 to gradually re-enter upward revision territory. Building blocks are in place for a return to second half of the year growth, but with 2025 Street comps of 1.6% and positive low single digits EPS growth, Wells sees little reason for Home Depot to raise the 2025 bar.
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