Home Depot Inc. cracked Cowen & Co.’s list of best stock ideas for 2023 Tuesday, as analyst Max Rakhlenko praised the company’s execution. Home Depot “exemplifies best-in-class retail execution with leading Pro share and an accelerating flywheel that should serve the company well into a challenging macro backdrop into 2023,” he wrote in a note to clients. Rakhlenko expects the company to consolidate market share even more, driven by inroads with Pro customers, in contrast to the do-it-yourself market. “We expect large Pro share growth will be led by the 30-35 markets with Flatbed DCs [distribution centers], which solve two key long-held stumbling blocks: better on-time delivery and greater Pro inventory,” he continued. Other Cowen “best ideas” for the new year include Nvidia Corp. , Netflix Inc. , and Caterpillar Inc. .
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