Baird analyst Peter Benedict believes the selloff today in shares of Home Depot (HD) and Lowe's (LOW) creates a buying opportunity. Amazon (AMZN) carrying Sear's (SHLD) Kenmore appliance products is likely to have a limited impact on Home Depot and Lowe's as as other major appliance brands already sell on Amazon, Benedict tells investors in a research note. He admits, however, that that the Sears, Amazon pact introduces "improved competition" from a brand both retailers do not carry. The analyst sees attractive valuations for both Home Depot and Lowe's amid today's selloff.