Home Depot

HD · NYSE

$315.11+$5.23 (+1.69%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $309.88

HD analyst rating

BuyConsensus of 25 analysts over the last 12 months. 72% rate it a buy.

Strong buy0
Buy18
Hold7
Underperform0
Sell0

12-month price target · 37 analysts

Average $381.11 (+20.9% upside)

Low: $257.55
Now: $315.11
High: $446.25

Upgrades and downgrades

The latest rating actions, newest first

HD analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Bernstein	Sep 9, 2026	Maintains	Market Perform	$354.00 → $344.00	36%
Mizuho	Aug 19, 2026	Maintains	Outperform	$385.00 → $390.00	41%
DA Davidson	Aug 19, 2026	Maintains	Buy	$377.00	62%
UBS	Aug 19, 2026	Maintains	Buy	$430.00 → $420.00	70%
Truist Securities	Aug 19, 2026	Maintains	Buy	$369.00 → $373.00	62%
Keybanc	Aug 19, 2026	Maintains	Sector Weight	—	40%
Argus Research	Aug 19, 2026	Maintains	Buy	$400.00	55%
RBC Capital	Aug 19, 2026	Maintains	Sector Perform	$343.00 → $342.00	54%
Guggenheim	Aug 19, 2026	Maintains	Buy	$425.00	49%
Stifel	Aug 17, 2026	Maintains	Hold	$320.00 → $340.00	26%

The case for and against

Updated Oct 14, 2026

Bull case

Home Depot is positioned to outperform because its scale across 2,364 stores, a $25B e-commerce business, and supply-chain investments support share gains in both DIY and Pro channels, especially as in-stock and on-shelf availability improve. Its 2Q results showed total comparable sales up 1.7%, U.S. comps up 1.3%, gross margin at 33.7%, and EPS beating by $0.19, while strong performance in Canada, Mexico, and SRS helped offset a still-challenging housing backdrop. The SRS and GMS tie-ups, along with the acquisition of Mingledorff’s, deepen exposure to a large, fragmented Pro market and should expand the addressable market while helping sales grow even if housing recovery remains gradual.

Bear case

Home Depot is facing subdued underlying demand because larger, financed project-related purchases remain pressured by elevated rates, low housing turnover, and weaker consumer willingness to remodel or buy homes, even as smaller repair and maintenance jobs hold up. Although comps have improved and professional demand through SRS, HD Supply, Interline Brands, and GMS supports share gains in a fragmented market, that growth is being helped by price reinvestment from $685M of tariff refunds rather than broad end-demand strength. Incremental fuel, energy, and product input costs created about a 60 bps gross margin headwind, and with gross margin excluding refunds down 117 bps y/y, the stock’s 22x forward earnings valuation looks vulnerable if deleverage returns.

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