Jefferies Bumps PT on Home Depot (HD), Lowe's (LOW); Remains on Sidelines

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Jefferies raised its price target on Home Depot (NYSE: HD) from $58 to $59 and on Lowe's (NYSE: LOW) from $32 to $35 but maintained a Hold rating on both on valuation.

"Current valuation suggests meaningful upside to future quarter SSS and EPS. This reflects the market's bullish view on housing, which is supported by generally strong data. Right now it feels like the only thing that could derail housing (and these stocks) is higher inflation and interest rates. Despite the move in long-term treasury yields this year, mortgage rates remain low and housing affordability is high."

For an analyst ratings summary and ratings history on Home Depot click here. For more ratings news on Home Depot click here.

Shares of Home Depot closed at $64.38 yesterday, with a 52 week range of $46.12-$68.15.

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