UBS Raises PT on Home Depot (HD) on Strong Momentum

February 27, 2013 11:57 AM EST Send to a Friend
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Price: $94.68 -0.13%

Rating Summary:
    10 Buy, 13 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 28 | New: 14
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UBS reiterated its Buy rating and raised its price target on Home Depot (NYSE: HD) from $73 to $75 following strong Q4 results. The firm said HD has amongst the best momentum in retail, which will support its shares.

"There aren't many retailers with the size and penetration of HD that are reporting a 7% comp increase, 112 bps of OM expansion, and 33% EPS growth," the analyst comments. "We can tie this performance to a combination of strong execution, market share gains, and a good sector backdrop. These attributes don't go away over night. We think they can carry HD for some time, which leads to a sound investment case for the stock."

The firm raised FY14 EPS from $3.47 to $3.48.

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 $67.56 yesterday.


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