UPDATE: Home Depot (HD) PT Lowered to $400 at Argus

Argus analyst Chris Graja lowered the price target on Home Depot (NYSE: HD) to $400.00 (from $440.00) while maintaining a Buy rating.

The analyst stated "While we remain bullish on the company's prospects, we are concerned that consumers will moderate their home improvement spending after two years of aggressive repair and remodeling activity, and that tighter monetary policy and higher interest rates will slow the economy and the housing market."

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