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Fly News Breaks for February 14, 2020
Feb 14, 2020 | 07:27 EDT
Wells Fargo analyst Zachary Fadem raised his price target for Home Depot (HD) to $265 from $240 and for Lowe's (LOW) to $140 from $135, saying he is bullish on the 2020 home improvement setup. He continues to view home improvement among the most compelling categories in his coverage. While Home Depot and Lowe's shares are near all-time highs and the China supply chain issues could prove a sticking point, Fadem views FY20 expectations as reasonable, near-term reads/indicators favorable, and he sees upside from underlying housing benefits and a potential return of commodity inflation. The analyst maintains Overweight ratings on the stocks.