Home Depot: UBS maintains 'buy' rating.
(CercleFinance.com) - UBS maintains its "buy" rating on Home Depot, with a target price of 175 dollars, saying the home improvement chain has "more room to take market share.
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After meeting with the US retailer's management, the broker remains convinced that the shares' momentum can continue.
"The backdrop remains favorable, which is supporting its growth," UBS wrote in a research note sent to clients this Monday.
The broker says the company expects home prices to rise 5% this year, which should provide more funds for consumers to invest in their homes, and increase their confidence.
"We think the stock will continue to be given a premium valuation and should deliver steady appreciation," UBS says.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
"
After meeting with the US retailer's management, the broker remains convinced that the shares' momentum can continue.
"The backdrop remains favorable, which is supporting its growth," UBS wrote in a research note sent to clients this Monday.
The broker says the company expects home prices to rise 5% this year, which should provide more funds for consumers to invest in their homes, and increase their confidence.
"We think the stock will continue to be given a premium valuation and should deliver steady appreciation," UBS says.
Copyright (c) 2017 CercleFinance.com. All rights reserved.