Raymond James still bullish on home improvement retailers HD and LOW

Raymond James maintained its favorable recommendations on home improvement retailers Home Depot (NYSE: HD) and Lowe’s (NYSE: LOW), on the back of reduced expenses in both companies and a stabilizing overall market. The bank said that Home Depot was more effective in reducing overhead, while also improving its in-store service levels. According to Raymond James, both Home Depot and Lowe’s will benefit from stabilizing and ultimately rising sales levels given the efficiency of their operations. The bank currently rates Home Depot a Strong Buy, and Lowe’s an Outperform.