Requesting opinions/analysis/due diligence on Home Depot before the upcoming earnings report before market open on November 16th.
I have been reviewing news and have see bull cases and bear cases, although in my opinion overall sentiment leans bullish. Here’s a couple quick points:
- HD has surprised on earnings the last 4 quarters straight, going back to Q4 2020. Their latest surprise in Q2 2021 was by a margin of 2.48%.
- HD sales will benefit from a robust housing market and inflated prices of lumber and other commodities necessary for home improvement projects.
- Zack’s has raised their EPS estimates ahead of earnings by 5%.
- Morgan Stanley, Wells Fargo, and Telsey Advisory Group all increased their grades to outperform, although the average of all analyst price targets is $350.50, which is about 6% lower than the current share price.
I hold no positions in HD at this time. I welcome your opinions, please share them!