Wall Street Strategies Reiterates Home Depot Buy, Raises PT To $43 (HD)

Wall Street Strategies reiterated its Home Depot HD Buy rating and raised Home Depot's price target from $40 to $43 in a research report published today. In the report, Wall Street Strategies states, "Contrary to the market's reaction today, there was ample positive news to chew on from Home Depot's (HD) 4Q10 earnings and commentary. Once the broader market reconciles its concerns on the geopolitical front, we believe the fundamental story at Home Depot will return to center stage. In that regard, we view the pullback as a buying opportunity rather than an indication the fundamentals of the business are headed south following a 2010 full of upside earnings surprises." Shares of Home Depot were trading at $38.09 in pre-market trading at the time of posting, down 0.16% from Tuesday's market close.