Jefferies Bullish on The Home Depot (HD) Following Mingledorff Acquisition

Jefferies has maintained a “Buy” rating on The Home Depot (HD) following its acquisition of Mingledorff’s, projecting a $100 billion expansion in the combined total addressable market. BNP Paribas also supports the acquisition but trimmed its price target and maintained a “Neutral” rating due to market decline and shrinking multiples. The acquisition is expected to enhance Home Depot’s long-term earnings and growth in the HVAC distribution sector.

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