The Home Depot, Inc. (NYSE:HD) is one of the top e-commerce stocks with long-term potential. On July 1, DA Davidson reaffirmed its Buy rating and $450 price target for Home Depot (NYSE:HD) after the company finalized a deal to acquire GMS for $110 per share, totaling a $5.5 billion enterprise value.
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Though the purchase price is $500 million below DA Davidson’s earlier expectations, Home Depot secured the deal at a competitive rate while outperforming rival offers. Analyst Michael Baker maintained his bullish outlook, supported by broad consensus with targets ranging from $308 to $484, signaling continued investor confidence in Home Depot’s long-term strategy.
The Home Depot, Inc. (NYSE:HD) is a leading home improvement retailer with global operations, offering building materials, décor, garden supplies, installation services, and tool rentals. It serves DIY customers and professionals through physical stores and a wide network of websites and mobile apps, including HomeDepot.com and specialty platforms for blinds, textiles, and roofing supplies.
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Disclosure: None. This article is originally published at Insider Monkey.
