Analyst Raises Price Targets on Home Depot, Lowe's

New York, NY, Aug. 5, 2009--Deutsche Bank has raised its price targets on Home Depot and Lowe's.

The firm believes that their quarterly reports should be positive catalysts for the two stocks as "many leading indicators have begun to look better."

Deutsche believes same store sales at Home Dept will be inline with its guidance of an 8% drop and, for Lowe's, a 7% decline, but feels that gross margins could be the metric that comes in better-than-expected.

Deutsche raised its price target on Home Depot from $24 to $27 and its target on Lowe's from $23 to $26. The firm kept its investment rating on Home Depot at Hold and its rating on Lowe's at Buy.