Jefferies Maintains Hold on Home Depot

Jefferies is out with its report today on Home Depot HD, maintaining Hold. In its report, Jefferies writes, "Although Home Depot is executing well relative to Lowe's LOW, we remain cautious on potential weakness in consumer spending in the second half. As a result we are maintaining our cautious view on comp store sales. Management maintained 2.5% sales guidance for the year. This implies some sequential slowing from Q2, which is expected since Q2 seasonal sales were rebounding following a weak Q1." Jefferies maintains a $33 PT on HD. Shares of HD closed Tuesday at $33.12, up 5.28% from Monday's close.