Home Improvement Stocks a Compelling Opportunity - Analyst
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Price: $57.22 -0.03%
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Trade XLY Now!
A research note by Oppenheimer today could paint a rosy picture for the following ETFs: Consumer Discretionary Select Sector SPDR (NYSE: XLY), PowerShares Dynamic Build & Construction (NYSE: PKB), and Market Vectors Retail (NYSE: RTH).
The ETFs listed above have significant exposure to one or both of the top two home improvement stocks, Home Depot (NYSE: HD) and Lowe's (NYSE: LOW). According to an analyst team at Oppenheimer led by Brian Nagel, the home improvement category is among the most compelling investment opportunities within retail.
Nagel thinks a recovery in the US housing market is under way and "easing macro-economic pressures should facilitate a sustained strengthening in demand for home improvement products."
Some investors became spooked on the sector this week after Scotts Miracle-Gro (NYSE: SMG) indicated that sales had softened. According to Nagel, negative trends at SMG are company and product specific and do not indicate a slowdown in the sector.
Oppenheimer has Outperform ratings on both Home Depot and Lowe's
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The ETFs listed above have significant exposure to one or both of the top two home improvement stocks, Home Depot (NYSE: HD) and Lowe's (NYSE: LOW). According to an analyst team at Oppenheimer led by Brian Nagel, the home improvement category is among the most compelling investment opportunities within retail.
Nagel thinks a recovery in the US housing market is under way and "easing macro-economic pressures should facilitate a sustained strengthening in demand for home improvement products."
Some investors became spooked on the sector this week after Scotts Miracle-Gro (NYSE: SMG) indicated that sales had softened. According to Nagel, negative trends at SMG are company and product specific and do not indicate a slowdown in the sector.
Oppenheimer has Outperform ratings on both Home Depot and Lowe's
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