We recently published 17 Stocks Jim Cramer Talked About. The Home Depot, Inc. (NYSE:HD) is one of the stocks that Jim Cramer talked about.
The Home Depot, Inc. (NYSE:HD) is one of the largest home improvement retailers in the world. Its shares are down by 5.3% over the past year and are up by 10.5% year-to-date. Truist raised the firm’s share price target in mid-January. It bumped the target to $405 from $390 and kept a Buy rating on the shares. The financial firm pointed out that The Home Depot, Inc. (NYSE:HD) was experiencing strength in its card data and holiday updates and added that the firm could also benefit from tax refunds for its customers. TD Cowen also raised The Home Depot, Inc. (NYSE:HD)’s share price target in January. It bumped the target price to $450 from $410 and kept a Buy rating on the shares. The firm included the retailer in its top ideas for hardlines and ranked The Home Depot, Inc. (NYSE:HD) in second place after Planet Fitness. Cramer mentioned how he went against the tide and bought the shares:
Photo by Naomi Hébert on Unsplash
“We bought Home Depot for the charitable trust and they all laughed. They all laughed at me. They’re not laughing now, David.”
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Disclosure: None. This article is originally published at Insider Monkey.
