Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTVandita JadejaWed, June 24, 2026 at 6:41 PM GMT+2 4 min readQuick ReadHD trades at $324, down 4% year to date, while our model targets $383 with a bull case reaching $430.Reaching $400 by 2027 requires mortgage rates to ease, comps near +2%, and SRS's 1,280 locations to keep driving revenue.At 20x forward earnings, HD trades below its trailing multiple of 23x and closer to its 52-week low than its high.Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Home Depot didn't make the cut. Grab the names FREE today.Home Depot (NYSE:HD) is the largest home improvement retailer in America, and right now it is caught between two stories. The fundamentals are steady while the stock has drifted lower.Lokibaho / Getty ImagesShares trade at $324.45 after slipping 4.3% year to date, while management just reaffirmed full-year guidance and pushed comparable sales back into positive territory. The question I want to answer is straightforward. Can HD reach $400 per share by 2027, and what has to happen for it to get there?HD Price Target — 24/7 Wall St.Why Home Depot Shares Are Stuck Despite Stable DemandThe market is punishing patience. HD is down 6.63% over the past year and off 3.75% in the last week alone, even though Q1 FY2026 revenue grew 4.8% to $41.77B with comparable sales of +0.6%. The drag is housing.Customer transactions fell 1.3% year over year, and CEO Ted Decker acknowledged "greater consumer uncertainty and housing affordability pressure" on the Q1 call.Add in SRS Distribution intangible amortization of roughly $119M per quarter compressing reported margins, and you have a stock that looks tired. With a beta of just 0.974, HD is not going to rip higher on sentiment alone. It needs a catalyst.Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Home Depot didn't make the cut. Grab the names FREE today.Wall Street Sees 14% Upside. Our Model Says 18%Consensus is constructive but cautious. The Street's average target sits at $370.18, with 4 Strong Buy, 18 Buy, 14 Hold, and zero Sell ratings. Our base case model puts fair value at $382.85, an 18% upside, with confidence at 90% and a bull scenario reaching $429.92.I think analysts are anchoring too tightly to the next four quarters. With 61% bullish sentiment and earnings growth contribution running slightly negative at -0.004, the consensus is pricing in a status-quo housing market. Any normalization of mortgage rates flips that math fast.HD Analyst Ratings — 24/7 Wall St.The Path to $400 Per ShareHere is the math. Reaching $400 from today's price of $324.45 would require a gain of 23.3%. With forward EPS of $16.31, a price of $400 implies a forward P/E of 25x. Our base case of $382.85 already implies 22x, meaning the bold target requires roughly 2.3 turns of additional multiple expansion. That is achievable.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info