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Why Home Depot (HD) is a Top Stock for the Long-Term

Kickstarting your investment journey can be both exciting and scary at the same time, and if you're new to investing, you may not know where to even begin. However, one thing is for certain -- stocks set to beat the market over the next 12 months serve as the perfect foundation for any kind of investor.

Let's now take a look at one standout stock that could be a perfect fit for your portfolio.

Why You Should Pay Attention to Home Depot (HD)

Based on net sales, The Home Depot Inc. is the world’s largest home improvement specialty retailer with 2,317 retail stores across the globe as of the end of fiscal 2021. It offers a diverse range of branded and proprietary home improvement items, building materials, lawn and garden products, décor products and related services.

Since being added to the Zacks Focus List on October 15, 2015 at $120.27 per share, shares of HD have increased 166.19% to $320.15.

Nine analysts revised their earnings estimate upwards in the last 60 days for fiscal 2023. The Zacks Consensus Estimate has increased $0 to $16.64. HD boasts an average earnings surprise of 4.2%.

Moreover, analysts are expecting Home Depot's earnings to grow 7.2% for the current fiscal year.

Since stock prices respond to earnings estimate revisions, it can be very profitable to buy stocks with an increased earnings outlook. By buying a Focus List stock like HD, then, you're likely getting into a company whose future earnings estimates will be raised, potentially leading to price momentum.

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The Home Depot, Inc. (HD) : Free Stock Analysis Report

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Zacks Investment Research