Oppenheimer raises Home Depot and Lowe's PT on comparable sales optimism
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Oppenheimer has raised price targets for Home Depot and Lowe's due to optimism in comparable sales. Home Depot's target is increased to $420 from $400, indicating a 2.5% upside, while Lowe's target rises to $320 from $305, reflecting a 24.6% upside. The brokerage notes that consumer demand in home improvement appears to have stabilized, although high lending rates may still hinder sales growth. Year-to-date, Lowe's shares are up 3.5% and Home Depot shares are up about 5%.
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