UBS Reiterates Buy on Home Depot with $430 Target, Cramer Backs Recovery
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UBS reiterated Buy rating and $430 price target for Home Depot after shares rose 11.3% year-to-date following a 5.5% one-year decline. Jim Cramer said his charitable trust owns Home Depot and cited belief that prospective Fed Chair Kevin Warsh will lower rates to boost the homebuilding sector.
1. UBS Maintains Buy Rating
UBS maintained its Buy rating on Home Depot and set a $430 per share price target, emphasizing the stock’s recent resilience despite a 5.5% decline over the past year and an 11.3% gain year-to-date.
2. Cramer Anticipates Fed Support
Jim Cramer revealed that his charitable trust holds Home Depot shares and expressed confidence in a turnaround driven by expectations that incoming Fed Chair Kevin Warsh will cut interest rates, which could revive the struggling homebuilding segment.
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