Posted 2/15/2024, 1:00:00 PM
Home Depot Poised for Long-Term Growth Despite Recent Sales Weakness
- The S&P 500 hit a new high, up 22% in the past year as recession fears fade and optimism grows
- Home Depot sales have been weak recently but its premium position should support long-term growth
- Home Depot is still generating higher profits and cash flow to fund dividends and buybacks
- Shares have underperformed but are attractively priced for long-term investors
- Favorable housing trends like rising prices and need for investment will eventually benefit Home Depot