Home Depot's Earnings Beat Sets Conservative Tone for FY24, J.P. Morgan Predicts Slowing Deterioration Ahead
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 12 2024
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Source: Benzinga
Earnings Report: Home Depot reported a 6.6% year-over-year sales growth to $40.217 billion, surpassing estimates, and raised its FY24 sales guidance while adjusting EPS expectations slightly lower than the previous year.
Analyst Insights: J.P. Morgan analyst Christopher Horvers maintains an Overweight rating, suggesting that despite some declines in U.S. business performance, the outlook for 2025 remains positive with a reasonable comp forecast of +2%.
Analyst Views on IEDI
Wall Street analysts forecast IEDI stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for IEDI is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 58.332
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Current: 58.332
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
