Analyst Upgrades HD, Downgrades Lowe's

New York, NY, Aug. 14, 2009--FBR Capital Markets has upgraded Home Depot, Inc.  shares to Outperform from Market Perform, while downgrading Lowe's Companies Inc. shares to Market Perform from Outperform.

The brokerage raised its 2009 EPS estimate for Home Depot to $1.53 from $1.48, and its 2010 estimate to $1.70 from $1.58. The brokerage raised its 2009 EPS estimate for Lowe's to $1.26 from $1.24 and its 2010 estimate to $1.40 from $1.34.

Analyst Stephen Chick noted that upside to consensus earnings estimates is higher for HD than for LOW, at this stage.

The analyst said that he would watch foreclosure activity in this market very closely.