Home Depot stock gains on analysts raising price targets
- Home Depot stock gained 1.6% on Wednesday after analysts were positive on Q3 results.
- HD stock slid more than 1% lower on Tuesday as CEO blamed high interest rates for poor comparable sales.
- Comparable sales fell 1.3% YoY in the third quarter.
- Most analysts raised their price targets on Wednesday for HD.
Aided by analyst loyalty, The Home Depot (HD) is gaining ground one day after the remodeling retailer sold off following third-quarter results showing dwindling comparable sales. HD stock has risen 1.6% on Wednesday to trade north of $409.
The Dow Jones Industrial Average (DJIA), of which Home Depot is a member, has gained 0.4% near lunchtime, while the growth-conscious NASDAQ decreases slightly.
