Truist raised the firm’s price target on Home Depot (HD) to $465 from $459 and keeps a Buy rating on the shares. The company’s Q3 results were better than originally expected, helped by warm/dry weather and $200M of incremental storm-related sales, the analyst tells investors in a research note. Truist maintains that as the economy steadies, the “golden handcuffs” of low existing mortgage rates will ultimately spur incremental home improvement activity, benefiting Home Depot.
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