Home Improvement Stocks a Compelling Opportunity - Analyst
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Price: $116.04 -1.02%
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 60
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 60
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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
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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