Home Depot and Lowe's downgraded on ‘cautious' stance toward home improvement
HDHome Depot(HD) Market Watch·2024-01-22 21:48

Home Depot Inc. and Lowe’s Cos. stocks dipped in premarket trading on Monday after Oppenheimer downgraded the two construction-material and hardware giants to perform from outperform and cut their target prices. Upcoming initial 2024 guidance from Home Depot and Lowe’s “could prove unfavorable catalysts for shares.” Home Depot is due to release its fourth-quarter results on Feb. 20, followed by Lowe’s on Feb. 28. Home Depot’s stock HD, +1.26% fell 0.9%, while Lowe’s LOW, +0.82% retreated by about 0.7%. Oppe ...