Home Depot Stock Upgraded: What You Need to Know

Home Depot Stock Upgraded: What You Need to Know

Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope...

Easy come, easy go. Yesterday, Lowe's (NYSE: LOW) investors thrilled to the news that their stock had just become more popular, after analysts at Raymond James upgraded the stock to outperform and assigned it an $87 price target. Today, the number of analysts recommending Lowe's dropped by one, when Atlantic Equities cut Lowe's stock to neutral...and replaced it with a new favorite: Lowe's archrival Home Depot (NYSE: HD).

Here are three things you need to know about that.

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Source: Fool.com