Home Depot Receives Rating Upgrade as Wedbush Predicts Stronger Demand in 2024
Home improvement retailer Home Depot (HD) has received a rating upgrade from Wedbush analysts, who have raised their outlook from Neutral to Outperform. The upgrade comes as Wedbush predicts stronger demand for Home Depot in 2024. Despite a weakened demand forecast for 2023, due to factors such as rising interest rates and declining existing home sales, analysts believe that key drivers are bottoming out or reversing, indicating a rebound in demand for the company in the following year.
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