Home improvement warehouse operator The Home Depot, Inc. ( HD ) on Wednesday saw its price target and earnings estimates raised by analysts at UBS.
The firm said it now expects HD shares to reach $45, suggesting a 15.5% upside to the stock's Tuesday closing price of $38.96. UBS also maintained its "Buy" rating and raised its estimates for the company, citing an upbeat analysis of both its short- and long-term outlook.
Home Depot shares, which have risen more than 11% year-to-date, gained another 79 cents, or +2%, in premarket trading Wednesday.
The Bottom Line
Shares of Home Depot ( HD ) have a 2.98% dividend yield, based on last night's closing stock price of $38.96. The stock has technical support in the $34-$36 price area. If the shares can firm up, we see overhead resistance around the $41-$42 price levels.
The Home Depot, Inc. ( HD ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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