Home Depot Stock Climbs Amid Revenue Beat and Raised Price Targets

Home Depot's stock rose by 2.1% in pre-market trading after the company announced its fiscal second-quarter sales of $47.86 billion, exceeding analyst expectations of around $47.27 billion.

The demand from repair-focused customers proved more resilient than feared, and alongside the revenue beat, management maintained their annual guidance.

Analysts at Stifel raised their price target on Home Depot's stock to $340 from $320, while RBC Capital lifted its target to $343 from $340; Bernstein made a marginal trim to $344 from $346.