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Fly News Breaks for July 19, 2019
HD
Jul 19, 2019 | 08:17 EDT
Loop Capital analyst Laura Champine raised her price target on Home Depot to $195 but her her Hold rating after her call with its management yesterday. The analyst says the discussions suggest that the demand outlook for home improvement remains mixed, with downside risks to the company's top-line guidance from lumber deflation in FY19 and some upside in remodeling activity in the second half and beyond from lower interest rates. Champine adds that lower mortgage rates have typically stimulated home improvement demand, and expectations of a more accommodative Fed warrant expectations of a slightly higher top-line for FY20 to 117.53B from her $117.40B prior view.
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