Home Depot Inc. (NYSE:HD) is one of billionaire Steve Cohen’s large-cap stock picks with the highest upside potential. On May 8, Barclays touted Home Depot Inc. (NYSE:HD) as one of the companies benefiting from an uptick in demand and easing comparisons in the sector.
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Consequently, the investment bank expects the company to deliver solid first-quarter results, supported by reasonable consensus estimates and an attractive valuation. The better-than-expected results would come on the back of favorable interest rates, which are fueling customer activity in the sector. Demand has already stabilized and improved, creating a favorable setup, as supplier-tracking data also suggest solid trends in the first quarter compared to the fourth quarter.
On the other hand, Home Depot subsidiary SRS Distribution has completed the acquisition of Mingledorff’s, LLC. With the acquisition, it gains access to a wholesale distributor of heating, ventilation, and air conditioning equipment, parts, and supplies. It will also add HVAC distribution as a new vertical.
“The addition of Mingledorff’s represents another key milestone in our strategy to better serve the Pro with the most comprehensive product and service offerings,” said Ted Decker, chair, president, and CEO of The Home Depot.
Home Depot Inc. (NYSE:HD) is the world’s largest home improvement specialty retailer, operating over 2,300 warehouse-format stores. It deals in building materials, home improvement products, tools, appliances, and lawn/garden items to DIY homeowners and professional contractors (Pros).
While we acknowledge the potential of HD as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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