Home Depot: Promotional Discounting Is Turning Rational; Reiterate ‘Buy’

Summary:

  • Home Depot reported a -3.1% same-store sales growth in Q3 FY23, slightly surpassing market consensus.
  • Management suggests a period of moderation with rational promotional discounting activities.
  • Reiterating a ‘Buy’ rating with a fair value of $360 per share.

Home Depot Raises Its Minimum Wage For Workers

Justin Sullivan

Home Depot (NYSE:HD) reported a -3.1% same-store sales growth in Q3 FY23, slightly surpassing the market consensus. Management suggests this year is a period of moderation, with promotional discounting activities becoming more rational. Since my initiation


Analyst’s Disclosure: I/we have a beneficial long position in the shares of HD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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