Option Millionaires

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Home Depot price target lowered to $406 from $417 at Truist
Truist lowered the firm's price target on Home Depot to $406 from $417 but keeps a Buy rating on the shares after its Q1 results. Comps declined by 2.8%, but according to Truist Card data, the company was running behind expectations for most of Q1 before trends improved as Spring weather arrived later in April, the analyst tells investors in a research note. Truist adds that Home Depot saw positive comps for Complex Pros in markets where it has invested in its supply chain and outside sales force, also stating that while many homeowners continue to defer big-ticket purchases, it is a matter of "when" not "if" sales accelerate as people invest in their existing homes rather than purchasing something else.