BUZZ-Home Depot, Lowe's up after Telsey Advisory Group upgrades to 'outperform'
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Shares of Home Depot and Lowe's rose approximately 1% in premarket trading after Telsey Advisory Group upgraded both stocks to 'outperform' from 'market perform.' The upgrade reflects increased confidence in their sales and earnings growth for 2025 and beyond, aided by expected Federal Reserve interest rate cuts and recovery from recent hurricanes. However, Telsey Advisory Group cautions that both companies may experience softer results in the short term due to current consumer spending weaknesses. Home Depot and Lowe's are set to report Q3 results on November 12 and 19, respectively.
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