The Home Depot Stock (HD): $448 Price Target From Truist

By Amit Chowdhry ● Jan 17, 2022
  • The shares of Home Depot Inc (NYSE: HD) have received a $448 price target from Truist. These are the details.

The shares of Home Depot Inc (NYSE: HD) have received a $448 price target from Truist. And Truist analyst Scot Ciccarelli upgraded Home Depot to a “Buy” rating from a “Hold” rating while increasing the price target from $420. 

Ciccarelli is positive on the key industry drivers such as supply/demand imbalances in the housing market, pandemic-driven behavioral changes, and aging housing infrastructure driving significant incremental home improvement growth. 

Plus Ciccarelli pointed out that Home Depot will continue to gain share from its size/scale benefits and enhanced supply chain capabilities.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.