5 Best Rising Dividend Stocks to Buy Right Now

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1. The Home Depot, Inc. (NYSE:HD)

Number of Hedge Fund Holders: 98

On May 14, Wells Fargo lowered its price recommendation on The Home Depot, Inc. (NYSE:HD) to $375 from $420. It reiterated an Overweight rating on the shares. The firm said discretionary spending remains out of favor, recent industry checks came in soft, and companies guiding toward a stronger second half of the year are facing skepticism from investors. Wells Fargo added that nearly every company in its Hardlines coverage has declined year-to-date as hopes for stimulus faded, oil prices climbed, and broader demand trends weakened.

On May 14, Bernstein lowered its price goal on Home Depot to $365 from $390. It maintained a Market Perform rating on the shares. Ahead of Q1 home improvement earnings, the firm said expectations remain muted for both Home Depot (HD) and Lowe’s (LOW). Bernstein expects Home Depot to post stronger comparable sales, partly because the SRS acquisition increased its exposure to repair and maintenance demand tied to snowstorm activity. For the full year, the firm does not expect either Home Depot or Lowe’s to revise guidance yet, as both companies are still considering a wide range of possible market conditions.

The Home Depot, Inc. (NYSE:HD) is a home improvement retailer that sells building materials, lawn and garden products, home decor items, and maintenance, repair, and operations (MRO) products through its stores and online platform.

While we acknowledge the potential of HD to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than HD and that has 100x upside potential, check out our report about the cheapest AI stock.

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