Home Depot lands Street-high price target from Citi

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  • There is another bullish take on Home Depot (NYSE:HD) from Wall Street this morning as analysts continue to point to the home improvement retailer's sustained momentum.
  • Citi increases its price target on Home Depot to $375 from $288 to mark a new Street high.
  • The firm is the latest to point to rising home prices and high housing turnover as positive indicators for Home Depot.
  • "We see favorable tailwinds for home price strength to continue in the near-to-medium term fueled by elevated demand for bigger homes and migration trends post-pandemic, a strengthening consumer, and the Fed’s commitment to low rates."
  • Yesterday: Home Depot keeps landing higher price targets as reopening fears fade.

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