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Fly News Breaks for August 20, 2019
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Aug 20, 2019 | 12:29 EDT
RBC Capital analyst R. Scot Ciccarelli said Home Depot's lumber deflation "weighed on comp optics," but he contends that its comp trends accelerated nicely throughout the quarter and margins "remain very steady" despite competitive pressures and investments. The analyst, who thinks Home Depot should continue to gain share in the "still-growing" home improvement sector, raised his price target on the stock to $233 from $229 and keeps an Outperform rating on the shares.
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