BofA sees more room for Home Depot shares
Key takeaways
- Bank of America reinstated coverage of Home Depot with a buy rating and a $374 price objective, calling the company its preferred stock within the home improvement sector.
- The call comes as Home Depot continues to deal with a soft housing backdrop, lower demand for large remodeling projects, and pressure across several home improvement categories.
- “We expect HD will outgrow peers during both a benign housing backdrop and a recovery scenario given higher Pro exposure,” BofA analysts wrote in the report.
Bof A sees more room for Home Depot shares Tyler Bundy Fri, May 8, 2026 at 12:47 AM GMT+7 4 min read HD BAC Home Depot has spent the past few years trying to build a larger business around professional contractors, and Bank of America says that shift could give the home improvement retailer a stronger setup than its peers.
Bank of America reinstated coverage of Home Depot with a buy rating and a $374 price objective, calling the company its preferred stock within the home improvement sector. The price objective implies 19.7% upside from the $312.42 share price listed in the firm’s May 5 report shared with TheStreet.
The call comes as Home Depot continues to deal with a soft housing backdrop, lower demand for large remodeling projects, and pressure across several home improvement categories. BofA still sees the company’s scale, Pro exposure, and recent acquisitions as reasons the stock can outperform if housing demand improves.