Stifel Cuts Home Depot Price Target to $320 Amid Weaker Sales Momentum

Stifel has lowered its price target for Home Depot (HD) to $320 from $375, citing weaker-than-expected comparable sales momentum. The firm also revised its outlook for the second through fourth quarters, expecting relatively flat sales growth due to broader economic conditions affecting discretionary renovation activity.

The update reflects a more cautious stance on near-term demand trends across the home improvement industry, with investors seeking clearer signals on consumer spending and housing-related activity.

Home Depot is set to report its fiscal first-quarter (Q1) earnings on Tuesday, with analysts expecting a revenue of $41.5 billion and earnings per share of $3.41, according to Fiscal AI data.