The Home Depot, Inc. : A rising trend !
By Alexandre Nutte
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$45.93 | $52 | $44.25 | +13.22% |
In the third quarter, Home Depot presented slightly better results than expected and raised its annual profit target. The company generated a net income of $ 934 million , $0.60 per share, compared with $ 834 million, $0.51 per share, a year earlier. Thomson Reuters’consensus was exceeded by one cent. Revenues reached $ 17.3 billion, up 4.4%.
This year, Home Depot expects that earnings per share rose by 18% to $2.38 against $ 2.34 previously. The revenue is still expected to grow about 2.5%.
In daily data, since early october, Home Depot’s stock initiated a bullish trend with a rise of 48%. The general bullish trend of U.S stock markets and the good results are key elements to explain why this share is skyrocketing. The 20-days moving average is still trending upward, so it could bolstered share up again.
However, it could be attractive for investors to take a buy order above $ 46.40 in closing price to target $ 52.The stop loss will be positioned at $ 44.25.