Home Depot upgraded to Buy from Hold at Loop Capital

Loop Capital upgraded Home Depot to Buy from Hold with a price target of $460, up from $360. The analyst says recent store checks indicate the home improvement retail demand has bottomed. The hurricanes may disrupt current quarter sales, but investors will likely look beyond this to a future demand lift, the analyst tells investors in a research note. Loop is “pleased” with the quick resolution to the port strike and upgraded to Buy the shares of both Home Depot and Lowe’s.