Home Depot (HD): Management Meeting Notes - UBS

UBS analyst, Michael Lasser, met with Home Depot (NYSE: HD) management and reiterated his Buy rating. He believes the home improvement retail backdrop remains strong, overall economic growth is stable and housing is providing a favorable tailwind.

The company is also trying to increase the spend of home improvement professionals. The average pro spends $6k per year and HD thinks that's a small percentage of the overall spend. The company thinks it can increase that amount through the use of enhanced credit offers, a pro app (with inventory availability lookup), & pro rewards programs.

No change to the $150 price target which is 21x CY'17 EPS.

price target of $150.00

For an analyst ratings summary and ratings history on Home Depot click here. For more ratings news on Home Depot click here.

Shares of Home Depot closed at $134.84 yesterday.

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