(CercleFinance.com) – Home Depot gains more than 1% in New York, while Jefferies confirms its buy rating on the stock, with a price target raised from $370 to $384.
The day after the release of the company’s quarterly reports, Jefferies said it was ‘encouraged to learn that the second quarter ended on a positive note’, with demand following the improvement in weather conditions.
The broker estimates that the trend should improve further in the 3rd quarter, compared to the first six months of the year and anticipates an increase in margins in 2024.
Jefferies also recalls that the brand plans to install 100% renewable electricity in all its premises by 2030, and aims to reduce its emissions by 40% by 2030 and 50% by 2035.
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