Credit Suisse analyst Karen Short assumed coverage of Home Depot with a Neutral rating, down from a prior Outperform, and a price target of $335, down from $390. While she sees reasons to be "constructive," her near-term concerns include a negative "wealth effect" risk to home improvement given declines in both the S&P 500 and home prices as well as a quarterly Home Improvement macro report that showed that only about 15% of the metrics the firm tracks were positive in Q3.
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Published first on TheFly
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