Home Depot downgrade reshapes Wall Street view, shares trade mixed on the NYSE

By Anna Wagner, Analysts & Consensus desk. Reviewed prior to publication on 2026-06-23, 20:23.

Home Depot (US4370761029) sits in the spotlight of the Dow Jones Industrial Average today after Wolfe Research downgraded the NYSE-listed retailer from Outperform to Peer Perform on June 23, 2026, citing concerns about future earnings strength. The shares trade around 325 US dollars intraday, roughly 2.3 percent below Friday's NYSE close at 326.62 US dollars according to Trading Dashboard data.Trading Dashboard price overview

What Wolfe Research changes

Wolfe Research's move marks a clear shift in the analyst tone on Home Depot, lowering the rating from Outperform to Peer Perform without setting a fresh price target, as summarized by GuruFocus on June 23, 2026.GuruFocus downgrade analysis The firm flags uncertainties around the home improvement chain's earnings trajectory as it leans harder into professional customers and faces what it calls a "lock-in" effect in the business mix.GuruFocus earnings concerns detail

According to Wolfe's assessment, the strategic focus on the Pro segment may dampen near-term earnings visibility, even as the long-term opportunity remains sizable, and the downgrade signals that the stock's risk-reward looks more balanced against peers at the current valuation.GuruFocus view on valuation and strategy Wolfe had previously rated Home Depot Outperform, so the step down to Peer Perform effectively removes a source of upside conviction from the Dow component's support base.Finviz analyst history for HD

How the broader analyst picture looks

Even after Wolfe's downgrade, the broader Wall Street consensus on Home Depot remains mixed rather than outright negative, with a combination of Buy, Outperform and Hold ratings from major research houses such as Telsey Advisory Group, Stifel and BofA Securities in 2026.Finviz consensus snapshot Telsey reaffirmed an Outperform stance in late May while trimming its price target from 435 to 410 US dollars, and Stifel maintained a Hold view with a target cut from 375 to 320 US dollars, reflecting a more cautious outlook on consumer spending and housing-related demand.Finviz record of recent rating and target changes

BofA Securities resumed coverage with a Buy rating and a 374 US dollar target in May, underscoring that some houses still see upside at current levels given Home Depot's scale and cash generation, even as near-term growth slows.Finviz listing of BofA initiation Robinhood data show Home Depot trading on a price-to-earnings ratio of around 23.2 with a dividend yield of roughly 2.8 percent, metrics that put the stock in the mid-range of large US discretionary retailers and suggest investors are paying a premium for the company's perceived resilience.Robinhood valuation and yield figures

What the company sells

Home Depot generates its revenue as a leading home improvement retailer, selling building materials, home maintenance products, tools and garden supplies through its large-format stores and online channel. A representative category for investors is its range of cordless power tools from brands like Ryobi and Milwaukee, which target both DIY customers and professional tradespeople and anchor repeat visits and higher basket values in key Pro segments.Home Depot cordless power tools assortment

Where the stock trades today

The Home Depot shares (US4370761029) trade on 2026-06-23 at approximately 325.06 US dollars on the NYSE, based on intraday quote data, leaving the Dow component with a market capitalization of about 324.1 billion US dollars and reflecting a modest move within the day's 321.70 to 329.02 US dollar range.Robinhood intraday price and range

Disclaimer: This article is for informational purposes only and does not constitute investment advice, a recommendation to buy or sell securities, or a solicitation of any transaction. All data are based on sources deemed reliable at the time of publication but may change without notice.