J.P. Morgan Provides Color on the Home Depot, Overweight

J.P. Morgan provided color on the Home Depot HD. In a research report published today, J.P. Morgan stressed its belief that the company is outperforming its rival Lowe's LOW. In the report, J.P. Morgan states, "Overall we walked away more confident in our 2.5% comp forecast for 2Q and less concerned about ticket performance heading into 2H11. Moreover, we continue to think LOW is lagging HD from a sales perspective... Finally, we believe the margin opportunity) remains abundant at HD. As such, HD remains our favorite large-cap stock on a risk-adjusted basis." At the moment, J.P. Morgan has an Overweight rating and a price target of $43 placed on the company's stock. On Wednesday, Home Depot finished the day at $34.93. Its shares lost 1.43% of its value in today's pre-market trading to stand around $34.43.