Gordon Haskett Raises Home Depot (HD) Price Target to $360, Maintains Hold Rating

On May 20, Gordon Haskett raised the firm’s price target on Home Depot (NYSE:HD) to $360 from $350 while keeping a Hold rating on the stock.

The rating update came after Home Depot (NYSE:HD) reported generally in-line fiscal Q1 2025 results on the same day. It reported sales of $39.9 billion for the quarter, reflecting a 9.4% growth compared to fiscal Q1 2024. Net earnings came up to $3.4 billion, compared to $3.6 billion in the same period last year. Comparable sales in the US rose 0.2%.

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Home Depot (NYSE:HD) also reaffirmed its guidance for fiscal year 2025, with a total sales growth of around 2.8%, comparable sales growth of approximately 1.0%, and gross margin of around 33.4%. The company also expects to open approximately 13 new stores.

Management is confident about the company’s store readiness and spring product assortment. In a research note, Gordon Haskett said he sees EPS for fiscal year 2025 and 2026 at $14.90 and $15.90, respectively.

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Disclosure: None.