HD earnings Tuesday, are you bullish or bearish?

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:

  1. 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%.
  2. HD sales will benefit from a robust housing market and inflated prices of lumber and other commodities necessary for home improvement projects.
  3. Zack’s has raised their EPS estimates ahead of earnings by 5%.
  4. 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!

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