Home Depot Stock Sees Potential for $375 or Higher Amid Housing Market Uncertainty

Home Depot's (NYSE:HD) stock has received a 'sector weight' rating from KeyCorp, according to research issued on Wednesday. The housing market recovery remains elusive, with conditions described as a 'frozen housing market.'

The company reported quarterly results that exceeded expectations, with adjusted EPS of $4.92 and revenue rising 5.7% year over year to $47.86 billion.

Analysts see potential for the stock to move toward $375 or higher, citing Home Depot's continued operational execution under existing management. However, concerns remain regarding the housing market recovery and its impact on future sales growth.