Baird analyst Peter Benedict said Home Depot shares remains a core blue-chip holding in investor's portfolios. The analyst cited its dividend yield, upward bias to estimates, ability to sustain its current multiple, and ability to perform in a challenging retail environment. Benedict reiterated his Outperform rating and raised his price target to $165 from $150 on Home Depot shares.
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Home Depot, on its conference call discussing its agreement to acquire SRS Distribution, said it is suspending share repurchases until it gets back to its targeted 2.0 times adjusted debt to EBITDA.