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Wells Fargo Releases a Buy Rating on Home Depot (HD)

Tipranks - Tipranks - Wed Aug 12, 6:00AM CDT

Wells Fargo analyst Zachary Fadem assigned a Buy rating to Home Depot today and set a price target of $400.00.

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Fadem covers the Consumer Cyclical sector, focusing on stocks such as Best Buy Co, Home Depot, and Lowe’s. According to TipRanks, Fadem has an average return of 0.7% and a 53.31% success rate on recommended stocks.

Currently, the analyst consensus on Home Depot is a Strong Buy with an average price target of $382.65.

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Based on Home Depot’s latest earnings release for the quarter ending May 3, the company reported a quarterly revenue of $41.77 billion and a net profit of $3.29 billion. In comparison, last year the company earned a revenue of $39.86 billion and had a net profit of $3.43 billion

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