CFRA upgraded the stock of Home Depot Inc. Tuesday, after the home-improvement retailer reported stronger-than-expected earnings for the fourth quarter. Analyst Victor Ahluwalia upgraded the stock to buy from hold and raised his 12-month price target by $39 to $209, ” accounting for HD’s premium valuation against peers, justified by superior margins, an outlook for further same-store sales, and market share gains in 2018.” Ahluwalia is expecting the company to benefit from additional home price appreciation and stronger consumer demand, aided by the revamp of the U.S. tax code in December. Home Depot shares were up 1.4% in early afternoon trade, while the Dow Jones Industrial Average was down 0.3%.
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