Truist cuts Home Depot target to $394

Truist Securities cut its price target on Home Depot to $394 from $424 on May 13, while maintaining a buy rating on the shares, according to published summaries of the research note. The change landed less than a week before Home Depot’s first-quarter earnings call, which the company has scheduled for May 19 at 9 a.m. ET. Home Depot shares traded at about $303.63 in morning trading on May 14, according to Yahoo Finance. The revised target still implies upside from that level, but the cut adds to a more cautious tone around the home-improvement retailer before results. ### Who made the cut, and what exactly changed? Truist Securities analyst Scot Ciccarelli lowered the target to $394 from $424 in a May 13 research note and kept a buy rating on Home Depot, according to MarketBeat, Trendonify and other market-data summaries. The move was one of several recent changes to Home Depot price targets ahead of the company’s quarterly report. (marketbeat.com) The $30 reduction leaves Truist above Home Depot’s current trading price but below the average analyst target shown on Yahoo Finance, which listed a one-year estimate of $406.58 on May 14. That comparison is based on third-party market-data services rather than the full text of Truist’s note, which was not publicly available in the search results. (marketbeat.com) ### Why are investors focused on Home Depot before this earnings report? May 19 is the date Home Depot has set for its first-quarter 2026 earnings release and conference call, according to the company’s investor relations site and a May 5 news release. Retail analysts and investors typically use those reports to test whether demand trends, margins and guidance still support current valuations. (finance.yahoo.com) Yahoo Finance showed Home Depot’s earnings date as May 19, and a catalyst calendar tracked by Catacal listed Wall Street expectations at about $3.42 in earnings per share on roughly $41.64 billion in revenue. Those consensus figures come from market estimates, not company guidance. ### How far had the stock already fallen? (ir.homedepot.com) Home Depot shares were quoted at $303.63 at 9:36 a.m. EDT on May 14, up modestly on the session but down 18.56% over the past year, according to Yahoo Finance. The stock’s 52-week range on that page was $299.27 to $426.75. A separate market summary from TradingKey said the shares had fallen 3.20% on May 13, with the Truist target cut and caution ahead of earnings cited as factors weighing on sentiment. (finance.yahoo.com) That attribution came from the market commentary service, not from Home Depot. ### Are other analysts turning more cautious too? (finance.yahoo.com) Citigroup also lowered its Home Depot target recently, cutting it to $400 from $450 while keeping a buy rating, according to MarketBeat’s roundup of analyst actions. The same summary said 20 analysts rated the stock buy, 12 rated it hold and one rated it sell. (tradingkey.com) Wolfe Research, UBS and Daiwa were also listed in recent coverage as maintaining more constructive or neutral views, showing that the latest Truist move came within a broader spread of analyst opinions rather than as a stand-alone downgrade. Those figures and ratings are compiled by market-data publishers and can change as firms update coverage. (marketbeat.com) ### What comes next for Home Depot? May 19 is the next dated milestone for the stock, with Home Depot set to release first-quarter results and host its earnings call at 9 a.m. ET, according to the company. Home Depot’s investor relations calendar also lists its second-quarter 2026 earnings release for August 18 and third-quarter 2026 results for November 17. (ir.homedepot.com) (marketbeat.com)