Through his research at JPMorgan analyst Christopher Horvers elevated the price target for Home Depot (HD) to $475 while keeping a positive Overweight rating on the stock. The firm has integrated Home Depot into its Analyst Focus List.

JPMorgan analysts predict Home Depot will exceed the market by showing 1% growth in U.S. comparable sales for its Q4 period while the rest of the market expects sales to drop by 2.4%. The company bases this adjustment on evaluation of its data together with market insights. The analyst notes Home Depot derives success from Western housing market growth patterns along with upscale home improvement purchase recovery along with regularizing consumer spending behaviour.