Home Depot (HD) PT Raised to $178 at Stifel

Stifel raised its price target on Home Depot (NYSE: HD) to $178.00 (from $165.00) while maintaining a Buy rating following solid Q1 results, with comps 100+ bps better than the Street despite tough comps

Analyst John Baugh said the continue to be pleased with the growth of big ticket spending (up nearly 16%) as they believe this is a good indication of consumers doing larger projects and is a good sign of the health of the underlying business.

The analyst said the macro backdrop is robust and there is a good possibility of further upward revision to their estimates.

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