S&P Upgraded Home Depot HD After 20% Sell-Off

S&P Upgraded Home Depot

to Hold From Sell yesterday, based on the 20% sell-off in recent months. They also reduced their price target by $2 to $31 for HD. Here are some quotes from the S&P report: “S&P Upgrades Recommendation on Shares of Home Depot (

)TO Hold From Sell: Excluding one-time items, Jul-Q EPS of $0.72, vs. $0.67, is $0.02 shy of our est. comp-store sales increased just 1.7% as the challenging macro environment continues to limit home remodeling efforts. While we applaud HD's success regarding supply chain improvement and expense control, we are trimming our fiscal-year 2011 (January) and fiscal-year 2012 operating EPS estimates to $1.91 and $2.11 from $1.92 and $2.15. We are also lowering our DCF (discounted cash flow) based target price by $2 to $31 on reduced sales projections. However, we think shares are now fairly valued following a 20% decline over the past three months. /M.Souers” You Can't Afford Miss To Out On These Money Making Trading

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