Still Like Home Depot (NYSE:HD)

Prepared by Tara, Senior Advisor at BAD BEAT Investing

The Home Depot (NYSE:HD) stock has gained 50% since our recommendation to buy on the COVID-19 pullback. That is great. But we have to tell you that we still like the stock. The company should do well. There is an expectation for home improvement spending to increase nearly 10% into 2021 and that is bullish. Another round of stimulus could drive homeowners to spend even more. We still like the name. We think $300 is coming. This year has been a massive win for home improvement. This stock is a great long-term buy. While there remains upside, short-term traders should look to take some profit over $300. The valuation is getting stretched and the growth seen recently in sales and earnings is likely to slow a bit when the economy normalizes, but growth will remain. Still, on pullbacks, you should be

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