Morgan Stanley raised its price target for The Home Depot to $412, up from $395. The firm simultaneously reaffirmed its "Overweight" rating on the stock, signaling confidence in the company's future prospects.
The upgrade follows Home Depot's continued investment in technology. The retailer recently announced the rollout of AI-powered coaching tools for employees, designed to enhance customer service and sales performance.
While the direct market reaction to the AI news was reportedly muted, the positive analyst sentiment from Morgan Stanley provides a stronger immediate catalyst for the stock.