{"id":22787,"date":"2023-06-15T00:09:12","date_gmt":"2023-06-15T04:09:12","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/bernstein-skeptical-on-home-depot-new-initiatives\/"},"modified":"2023-06-15T00:09:13","modified_gmt":"2023-06-15T04:09:13","slug":"bernstein-skeptical-on-home-depot-new-initiatives","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=22787","title":{"rendered":"Bernstein skeptical on Home Depot new initiatives"},"content":{"rendered":"
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\u00a9 Reuters. Bernstein skeptical on Home Depot (HD) new initiatives<\/span>
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Home Depot <\/span><\/span> (NYSE:)\u00a0shares are up around 0.3% Wednesday, a day after the company held its 2023 Investor & Analyst Conference in New York City, outlining how it plans to gain pro-market share.<\/p>\n

In comments following the event, Wolfe Research analysts told investors that the home improvement industry is going through a year of moderation.<\/p>\n

However, HD “expects a continuation of market share gains, particularly in the complex pro project category,” said analysts, who maintained an Outperform rating and $327 price target on the stock.<\/p>\n

“The broad assortment offering and improving service levels should enable pro share gains longer term. Management’s 3-4% LT growth target is expected to outpace the market’s LSD growth,” they added.<\/p>\n

Meanwhile, Bernstein analysts maintained a Market Perform rating and $314 price target on HD shares.<\/p>\n

They said HD provided little new information on FY23, offered a view for a new base case outlook for when the housing market stabilizes, and reiterated its focus on the planned purchase Pro occasion.<\/p>\n

“HD established a Base Case outlook featuring faster-than-sector topline growth of 3-4% and MSD-HSD% EPS growth. We remain skeptical as to whether HD’s new initiatives will drive margin expansion and EPS growth faster than topline growth, particularly with the emphasis on increasing penetration within the “complex” project market,” said analysts.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Bernstein skeptical on Home Depot (HD) new initiatives Home Depot (NYSE:)\u00a0shares are up around 0.3% Wednesday, a day after the company held its 2023 Investor & Analyst Conference in New York City, outlining how it plans to gain pro-market share. In comments following the event, Wolfe Research analysts told investors that the home […]<\/p>\n","protected":false},"author":1,"featured_media":22788,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-22787","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nBernstein skeptical on Home Depot new initiatives | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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