JPMorgan analyst Christopher Horvers maintained an Overweight rating and $223 price target on Home Depot shares, noting to investors in a research note that despite "nice" upside to comps in Q2, the stock traded slightly lower. Horvers says he continues to believe concerns on the cycle remain a near-term overhang on the stock, and expects shares will climb the "cycle wall of worry" in the second half of the year as Home Depot likely posts upside to sales driven by market growth rate and share capture. He expects the stock will re-rate higher as investors gain comfort with 2019 forecasts.