Telsey Downgrades Home Depot (HD) to Market Perform, 'we don't expect it to outperform the market in the near term'

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Go back to Telsey Downgrades Home Depot (HD) to Market Perform, 'we don't expect it to outperform the market in the near term'

Home Depot (HD), Lowe's (LOW) both downgraded at Telsey on 'steeper slowdown'

August 8, 2023 9:04 AM EDT

Shares of home improvement giants Home Depot (NYSE: HD) and Lowe's Cos. (NYSE: LOW) each fell about 1.5% in pre-open trading Tuesday after analysts at Telsey Advisory Group downgraded the stocks.

Analyst Joseph Feldman downgraded both stocks to Market Perform from Outperform.

The analyst said in the near term they expect both companies to "experience a slightly... More