Credit Suisse analyst Seth Sigman raised his price target for Home Depot to $213 from $192 as the company's Q2 results were better than feared, with a healthy exit rate and guidance revised just enough to reset the bar while still signaling optimism for an acceleration in the second half of the year. The analyst reiterates a Neutral rating on the 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.