DA Davidson keeps a Buy rating and $450 price target on Home Depot (HD) in a research note that follows this morning’s Q2 results by the company. Home Depot comps were “about in line”, but the trend “improved greatly” throughout the quarter, with July comping up 3.3% – the best monthly comp of the year, the analyst tells investors in a research note. The company’s gross margins also beat and operating margins were as expected, while operating profits were slightly below consensus due to expense timing, the firm added.
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