HSBC analyst Daniela Bretthauer upgraded Home Depot (HD) to Hold from Reduce with a price target of $410, up from $356, post the Q4 report. The firm cites the company’s positive same-store-sales inflection point, despite pressure on large remodeling projects, for the upgrade. Home Depot’s same-store-sales turned positive in Q4 for the first time in eight quarters, the analyst tells investors in a research note. HSBC is also encouraged by management comments that the business has strengthened across many categories and geographies.
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