Home Depot Stock (HD) Slips Despite Co-Founder Praises Trump, Analysts Maintain Strong Buy Rating

Home Depot's co-founder Ken Langone praises President Trump, calling him one of America's best presidents. Despite this, Home Depot stock slipped fractionally in trading. Langone also expressed support for Andrew Cuomo in the NYC mayoral race. Analysts have a Strong Buy consensus rating on HD stock, with a price target of $430.44 per share implying 20.73% upside potential.

In a recent interview, Ken Langone, co-founder of Home Depot, expressed his support for President Donald Trump, describing him as one of America's best presidents. Langone's comments, which appeared on CNBC, highlighted his optimism about the current economic policies and leadership under the Trump administration [1]. Despite this, Home Depot's stock slipped slightly in trading following Langone's remarks.

Langone's shift in stance comes after previously criticizing Trump's tariff policies, which he initially viewed as detrimental to free trade. However, he now credits Trump's instincts and the overall positive impact of his policies on the economy. Langone also praised the "One Big Beautiful Bill" for its potential to stimulate economic growth and tax revenues [1].

In addition to his support for Trump, Langone has expressed his backing for Andrew Cuomo in the NYC mayoral race. This political endorsement adds another layer to Langone's public stance, which has been the subject of recent scrutiny due to his past criticisms of Trump's policies.

Analysts, however, remain bullish on Home Depot stock, with a Strong Buy consensus rating and a price target of $430.44 per share. This target implies a 20.73% upside potential for investors. Jefferies analysts have cited record-setting activity in the Home Equity Line of Credit (HELOC) market as a key driver for this optimism, noting that homeowners are increasingly turning to HELOCs for home renovation and repair projects [2].

Despite the positive outlook from analysts, institutional investors have shown varying levels of engagement with Home Depot stock. For instance, Graybill Wealth Management LTD. recently purchased 3,256 shares of HD worth approximately $1,193,000, while Leo Wealth LLC lowered its position by 59.4% by selling 3,755 shares [1].

In conclusion, while Ken Langone's support for Trump and his endorsement of Cuomo have garnered attention, the overall market sentiment for Home Depot remains positive. The Strong Buy rating and price target from analysts suggest that investors may find opportunities in Home Depot stock, driven by robust HELOC activity and a shift in homeowner spending habits.

References:
[1] https://www.miragenews.com/home-depot-co-founder-backs-trump-1496952/
[2] https://www.ainvest.com/news/jefferies-boosts-home-depot-price-target-460-citing-record-setting-heloc-activity-2507/