Home Depot (NYSE:HD) reported Q2 EPS of $0.86, better than analyst estimates of $0.83 per share. Revenues for the quarter rose 4.2% year-over-year to $20.23 billion, better than consensus estimates of $19.96 billion.The Company confirmed that it expects fiscal 2011 sales will be up approximately 2.5 percent from fiscal 2010.Frank Blake, chairman & CEO said, "Our second-quarter results were driven by a rebound in our seasonal business, storm-related repairs and strength in our core categories. We continue to deliver a strong operating performance while also investing in customer service and our merchandising initiatives. I would like to thank our associates for their hard work and dedication. It is their efforts that enabled us to deliver these results."Home Depot (NYSE:HD) has a potential upside of 28.1% based on a current price of $31.46 and an average consensus analyst price target of $40.29.
