UPDATE: UBS Reiterates its Buy Rating of Home Depot, Raises PT

According to a report released by UBS, it has maintained its Buy rating of Home Depot

while raising its price target from $58.00 to $63.00. In the report UBS said that "among its best performing were those hit hardest by the downturn, including FL and CA. Recent data points, including accelerating housing turnover and its 3.8% comp increase in July, support the company's outlook for 2H12. Moreover, August has been in-line with the company's expectations." Home Depot traded around $57.00 Friday