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Non-Tech : Home Depot (HD)
HD 275.19-1.7%4:00 PM EDT

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From: JakeStraw3/20/2019 9:04:37 AM
   of 1170
Evercore initiating Home Depot as ‘outperform’

Evercore initiated coverage on Home Depot saying that, among other things, the stock is attractive and competition is shuttering.

“Compounder status intact... Fear Creates Opportunity... Cyclical pressures aside, we think Home Depot’s stock is attractive as the fears of the peak of the housing cycle and tough 1H compares appear to be in the stock at 16.7x our 2020 EPS estimate... The key positives are digital pushing 8% of sales, Pro at almost a majority of sales, pricing power if tariffs escalate, and competitors such as Sears going away while Lowe’s is shuttering capacity....Our Base Case of $215 is 19.5x our 2020e or $11.00... ”
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