RBC Capital Upgrades HD Supply Holdings (HDS) to Outperform

RBC Capital upgraded HD Supply Holdings (NASDAQ: HDS) from Sector Perform to Outperform with a price target of $50.00 (from $39.00), saying it's in the sweet spot for a Trump bump.

Analyst Deane Dray commented, "We are upgrading HDS from Sector Perform to Outperform as we see this US-centric industrial distributor in the sweet spot of the Trump Bump, benefiting from corporate tax reform, water infrastructure spending, and the reflation trade. These new positives trump our prior concerns about potential lingering worries from the recent string of FM supply chain missteps. Our new $50 price target implies 22% upside."

For an analyst ratings summary and ratings history on HD Supply Holdings click here. For more ratings news on HD Supply Holdings click here.

Shares of HD Supply Holdings closed at $40.89 yesterday.

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