Analyst Upgrades Home Depot, Lowe's

New York, NY, January 22, 2008-- An analyst upgraded shares of six retailers including home improvement retailers Home Depot and Lowe’s on Tuesday.

Bernstein Research said that while fundamentals are bad, the sector is awash in cheap stocks.

"Our analysis suggests that downside for many stocks should be limited, even in a recession with a corresponding margin collapse for retail," the analysts wrote.

The firm upgraded Home Depot Inc., Lowe's Companies Inc., home furnishings retailers Bed Bath & Beyond Inc. and Williams-Sonoma Inc., and general retailers Macy's Inc., and Kohl's Corp. to "Outperform" from "Market Perform."