Home Depot, Inc. (NYSE:HD) shares are trading higher today. Several analysts cut the price target and lowered the estimates after second quarter FY24 earnings results reported yesterday. Yesterday, Home Depot reported second-quarter sales growth of 0.6% year-over-year to $43.175 billion, marginally missing the consensus estimate of $43.376 billion and adjusted EPS of $4.67 (-0.2% Y/Y), beating the consensus of $4.50. For FY24, Home Depot raised its sales guidance from $154.20 billion to $156.49 billion – $158.01 billion vs. the consensus of $158.88 billion and, expects comparable sales to decline between 3% and 4% (prior ~1%). Stifel analyst W. Andrew Carter maintained a Hold rating and cut the price target to $375 from $380. The analyst lowered FY24 EPS estimate to $14.81 from $14.94, reflecting the upper end of the company's updated guidance. This adjustment accounts for a $0.30 EPS headwind from acquired amortization. The analyst projects a 3% decline in comparable sales and expects a 10 basis point increase in gross margin. Operating margin is estimated at 13.6%, down 60 basis points year-over-year, but improved by $500 million in OPEX favorability. RBC Capital Markets analyst Steven Shemesh reiterated the Sector Perform rating with a reduced price target to $363.0 from $377.0. The anticipated comp miss and guidance ...