Deutsche Bank Upgrades Home Depot (HD) to Buy

Deutsche Bank upgraded Home Depot (NYSE: HD) from Hold to Buy with a price target of $135.

Analyst Mike Baker said, "We continue to believe the home centers have the best fundamentals in hardline retail with favorable end-user demand driving sustained solid comps, a rational competitive environment, and compelling financial models. We further believe that recent market weakness has led to some compelling opportunities to buy quality names at lower valuations, The Home Depot being a perfect example. Along with favorable industry dynamics, HD is the market leader in the space on sales, sales growth and profitability. And, with the stock off 12% from its high of $135.47 on 11/27, we see enough room to our $135 price target to upgrade from Hold to Buy."

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 $122.76 yesterday.

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