Home Depot’s (HD) $5.5B GMS Acquisition Solidifies Bullish Analyst Confidence

The Home Depot, Inc. (NYSE:HD) is one of the top e-commerce stocks with long-term potential. On July 1, DA Davidson reaffirmed its Buy rating and $450 price target for Home Depot (NYSE:HD) after the company finalized a deal to acquire GMS for $110 per share, totaling a $5.5 billion enterprise value.

Home Depot’s (HD) $5.5B GMS Acquisition Solidifies Bullish Analyst Confidence

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Though the purchase price is $500 million below DA Davidson’s earlier expectations, Home Depot secured the deal at a competitive rate while outperforming rival offers. Analyst Michael Baker maintained his bullish outlook, supported by broad consensus with targets ranging from $308 to $484, signaling continued investor confidence in Home Depot’s long-term strategy.

The Home Depot, Inc. (NYSE:HD)  is a leading home improvement retailer with global operations, offering building materials, décor, garden supplies, installation services, and tool rentals. It serves DIY customers and professionals through physical stores and a wide network of websites and mobile apps, including HomeDepot.com and specialty platforms for blinds, textiles, and roofing supplies.

While we acknowledge the potential of The Home Depot, Inc. (NYSE:HD) as an investment, 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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Disclosure: None. This article is originally published at Insider Monkey.