Home Depot Shares Surge on Barclays Upgrade: Wells Fargo Names it Top Pick

Home Depot Stock Receives Positive Ratings Upgrade from Barclays and Wells Fargo

Home improvement retailer Home Depot’s stock (HD) saw a modest increase in early trading on Thursday following bullish moves by sell-side analysts. Barclays analysts upgraded the rating on Home Depot shares to Overweight, expressing a more positive outlook for the home improvement sector over the next 12-24 months. Likewise, Wells Fargo analysts named Home Depot as their Top Pick for 2024, raising the price target to $385 per share. These positive moves reflect the analysts’ bullish stance on the company’s growth potential and recovery prospects.