UPDATE: Piper Jaffray Color On HD Q4

Piper Jaffray, which raised its PT on Home Depot HD, is providing some color on the stock. “We see signs of stabilization in HD's business following its fifth consecutive quarter of positive comps,” Piper Jaffray writes. “However, we continue to remain Neutral given difficult comparisons in the 1H F11 due to 1x benefits from the first time homebuyer credit and cash for appliances. It is also worth noting that the big ticket increase in Q4 was partially due to energy tax credits for consumers, and management stated that consumers remain cautious about making big ticket investments in their homes.” Home Depot closed Tuesday at $38.09.