Analysts Are Cutting Price Targets of These 5 Stocks

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

Number of Hedge Fund Holders: 65

On July 26, Argus, a research firm, lowered the price target for The Home Depot, Inc. (NYSE:HD) from $400 to $350 in their report. This revision indicates that Argus has reassessed their valuation outlook for The Home Depot, Inc. (NYSE:HD), resulting in a more conservative price target compared to their previous estimate.

Madison Sustainable Equity Fund made the following comment about The Home Depot, Inc. (NYSE:HD) in its second quarter 2023 investor letter:

“The Home Depot, Inc. (NYSE:HD) celebrates 30 years of giving back. Team Depot was created in 1993 as a way of organizing associates who were eager to volunteer in their communities. For 30 years, Team Depot associates have worked side by side with non-profits around the United States. Focus areas include spending time with the elderly and activities with at risk youth. Team Depot also improves the homes and lives of veterans and helps communities impacted by natural disasters.

During the quarter, Home Depot set a goal for battery-powered products to represent over 85% of outdoor lawn equipment sales in the U.S. and Canada by the end of fiscal 2028. Push lawn mowers and handheld leaf blowers and trimmers will run on rechargeable battery technology instead of gas. This will reduce 2 million metric tons of greenhouse gas emissions annually.”