UPDATE: Canaccord Genuity Lowers Price Target on Home Depot to $54

In a report published Tuesday, Canaccord Genuity lowered Home Depot's

price target to o$54 from $57 on slowing sales momentum. Canaccord Genuity reported that, “HD reported operating EPS of $0.67, excluding a $0.01 benefit related to earlier store closure charges, versus our $0.63 estimate and consensus of $0.64. Q4 SSS increased 7% on top of +5.7%, versus Lowe's

+1.9% on top of +3.4%. Based on the $242MM in storm-related sales, we calculate Hurricane Sandy added roughly 200bps to SSS.” Home Depot shares closed at 67.10 on Monday.