HALISTER1: Home Depot Upgraded at Raymond James on ’World-Class’ Execution

Home Depot Upgraded at Raymond James on ’World-Class’ Execution

(Bloomberg) -- Home Depot upgraded to outperform from market perform at Raymond James as it continues to "execute at a world-class level" despite a challenging retail environment, analyst Budd Bugatch (establishes PT $165) writes in a note. HD is up 1% pre-market, partially recovering from a 2.7% loss after reporting 2Q earnings pre-mkt Tuesday.
  • HD delivered "impressive" 2Q, scoring revenue, Ebitda, and EPS growth
  • HD has demonstrated "interconnected retail capabilities" with 2Q eCommerce growth of ~23% y/y (~6.4% of sales)
  • Separately, Citigroup sees share pullback as a buying opportunity for "one of the last consistently strong comping names in retail", analyst Kate McShane (buy) writes in a note
    • Says HD has been competing for years in-store and online vs AMZN and SHLD; has "defensive qualities" vs AMZN
    • HD to benefit from continuing home price appreciation and increasing household formation
  • HD 21 buys, 10 holds, 0 sells, avg PT $171: Bloomberg data
  • HD +12% YTD vs S&P 500 Retailing Index (S5RETL) +9%
  • NOTE: Aug 15, Home Depot Boosts Full Year EPS Forecast, Beats Estimates
To contact the reporter on this story: Kailey Leinz in New York at kleinz1@bloomberg.net To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net Scott Schnipper

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
HD US (Home Depot Inc/The)

People
Beryl Bugatch "Budd" (Raymond James Financial Inc)
Kate McShane (Citigroup Global Markets Inc)

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UUID: 7947283

HALISTER1: Treasury Futures Technical Levels in Focus

Treasury Futures Technical Levels in Focus

(Bloomberg) -- Treasury futures (TY1) technical levels in focus for Wednesday.
  • Daily Trend Bias: Neutral-to-bearish
  • Comment: Third day lower amid improving risk-tone; upside risks subside following Tuesday session close below 21-DMA (126-04+); slippage through 125-29 (Aug. 8 low) required to provide stronger bear confirmation
    • Resistance: 126-10+; 126-14; 126-18
    • Support: 125-29; 125-21+; 125-17+
  • NOTE: Roll-adjusted by difference in GFUT
  • NOTE: Sejul Gokal is a FICC technical strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice
To contact the reporter on this story: Sejul Gokal in London at sgokal1@bloomberg.net To contact the editors responsible for this story: Ven Ram at vram1@bloomberg.net Keith Jenkins

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283