RBC Capital analyst Scot Ciccarelli says that Home Depot reported "strong" results and provided 2017 guidance that "appears conservative." He says that the company "is off to a good start" in Q1, while the macro environment remains favorable. The analyst raised his price target on the shares to $158 from $153 and keeps an Outperform rating on the stock.
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Home Depot, on its conference call discussing its agreement to acquire SRS Distribution, said it is suspending share repurchases until it gets back to its targeted 2.0 times adjusted debt to EBITDA.