Nomura Comments on Home Depot (HD), Sees Opportunity Elsewhere
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Price: $78.91 --0%
Rating Summary:
7 Buy, 12 Hold, 0 Sell
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Today's Overall Ratings:
Up: 0 | Down: 1 | New: 0
Rating Summary:
7 Buy, 12 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 0
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Nomura Securities maintained a Neutral rating on Home Depot (NYSE: HD) and raised its price target to $63.00 (from $55.00).
"We have remained Neutral on HD shares despite strong execution and market share gains, and the strong year-to-date performance for HD," said analyst Aram Rubinson.
"The story is becoming a bit of a virtuous loop whereby HD adds debt in order to buy shares so that it can keep up with increasing levels of profitability. We see the story as a compelling one, though it is not lost on the market with valuation nearing 10x 2013 EBITDA estimates," added Rubinson.
He sees bigger opportunity in Sherwin-Williams (NYSE: SHW) and Lowe's (NYSE: LOW).
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 $63.38 yesterday, with a 52 week range of $36.41-$64.44.
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"We have remained Neutral on HD shares despite strong execution and market share gains, and the strong year-to-date performance for HD," said analyst Aram Rubinson.
"The story is becoming a bit of a virtuous loop whereby HD adds debt in order to buy shares so that it can keep up with increasing levels of profitability. We see the story as a compelling one, though it is not lost on the market with valuation nearing 10x 2013 EBITDA estimates," added Rubinson.
He sees bigger opportunity in Sherwin-Williams (NYSE: SHW) and Lowe's (NYSE: LOW).
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 $63.38 yesterday, with a 52 week range of $36.41-$64.44.
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