Loop Capital analyst Laura Champine raised her price target on Home Depot to $205, noting that while the stock fell over 5% yesterday after its Q3 top-line miss and the second consecutive quarter of lower revenue projections, she sees "more bullish" long-term gross margins given the company's pricing and purchasing power. The analyst still keeps her Hold rating on Home Depot, stating that its valuation remains "somewhat rich" at 21-times her expected FY20 earnings and 14-times on enterprise value to expected EBITDA basis.
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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.