New York, NY, Sept. 9--Goldman Sachs downgraded Home Depot to "In-Line" from "Outperform" and lowered its view on the hardlines retail sector to "Cautious" from "Neutral".
Goldman Sachs cited the reality of higher mortgage rates, which are likely to lead to deceleration in housing turns, a key leading indicator of DIY spending. It also remains guarded about the magnitude of Home Depot's long-term growth opportunity and is realistic about Home Depot confronting Lowes, a rapidly growing competitor in major Metro Markets.
