Home Depot Gets Price Target Cuts By Analysts After Downbeat Sales

Home Depot Inc HD reported mixed first-quarter financial results.

Home Depot reported a first sales decline of 4.2% year-on-year to $37.26 billion, missing the analyst consensus estimate of $38.31 billion. EPS of $3.82 beat the analyst consensus of $3.80.

Home Depot sees sales and comparable sales decline of 2% - 5% vs. the $156.56 billion estimate. The outlook was lowered from the flat revenue growth anticipated in the fourth quarter.

Home Depot shares fell 2.2% to close at $282.33 on Tuesday.

These analysts made changes to their price targets on Home Depot following earnings announcement.

• Telsey Advisory Group cut the price target on Home Depot from $340 to $315. Telsey Advisory Group analyst Joseph Feldman maintained an Outperform rating.
• Goldman Sachs lowered the price target on Home Depot from $340 to $330. Goldman Sachs analyst Kate McShane maintained a Buy rating
• Credit Suisse cut Home Depot price target from $320 to $310. Credit Suisse analyst Karen Short maintained the stock with a Neutral.

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