Telsey Advisory Lowers Home Depot (HD) Price Target to $430, Maintains Outperform Rating

Core Insights - The Home Depot, Inc. is recognized as one of the best long-term stocks to buy according to Reddit discussions [1] - Telsey Advisory has lowered its price target for Home Depot to $430 from $455 while maintaining an Outperform rating, citing a weaker near-term outlook but affirming its long-term potential [2] - In Q3, Home Depot reported adjusted earnings per share of $3.74 on sales of $41.35 billion, with a 0.1% year-over-year increase in same-store sales and a 2.8% overall revenue growth [3] - The company updated its full-year revenue growth expectation to approximately 3%, slightly above previous forecasts, while anticipating only "slightly positive" growth in same-store sales [4] Financial Performance - Adjusted earnings per share for Q3 were $3.74 [3] - Total sales for Q3 reached $41.35 billion [3] - Same-store sales increased by 0.1% year-over-year, while overall revenue grew by 2.8% [3] - The average ticket size rose by 2%, but same-store transactions fell by 1.6% [3] Guidance and Outlook - Home Depot expects full-year revenue growth of roughly 3%, up from a previous forecast of 2.8% [4] - The company revised its same-store sales growth expectation from 1% to "slightly positive" compared to the previous year [4]