Home Depot Sees Price Target Lowered by UBS Amid Strong Sales Growth

Home Depot's second-quarter comparable sales exceeded expectations by rising 1.7%, according to UBS, which lowered its price target for the company to $420 from $430 while maintaining a Buy rating.

The firm noted that the retailer generated revenue of $166.59 billion over the last twelve months with a market capitalization of $345.19 billion and maintained a healthy gross profit margin of 33%.

UBS said Home Depot appears to be generating growth through execution, strategic investments, and market share gains rather than relying on an improvement in the macro environment.