Citigroup Review: Home Depot Second Quarter Earnings (HD)

Citigroup is out with a research report in the wake of home improvement retail company Home Depot's HD Q2 earnings. The firm's analysts have given the stock a ‘Hold’ rating with a target price of $34. The Company recently announced its Q2 results for the current fiscal year reporting EPS of $0.72 ahead of Citi's estimate of $0.69 per share. The company's sales for the quarter stood at $19.4 billion, an increase of 1.8% compared to last year. The target price of $34 values HD at 16x 2011 EPS estimates.