UPDATE: Bank of America Raises PT on Home Depot and Lowe's

According to a research report published earlier today, Bank of America has raised Home Depot Inc.'s HD PT from $46 to $50, and Lowes' LOW from $26 to $29. In the report, Bank of America said, “We are lowering both 12/13E EPS from $0.20 to $0.14. Along with 4Q earnings last week Cincinnati Bell announced that its Board has authorized management to evaluate ‘structural, capital and financial alternatives' for the Data Center business including partial or full separation, sale or IPO over the next 6-12 months. We view a partial data center IPO as most likely. Our upgrade reflects 1) the formalization of a process that encompasses a wide range of potential outcomes, not just a spin, and 2) the rising valuation benchmarks for data centers, specifically EQIX.” The Home Depot closed yesterday at $45.93. Lowes closed yesterday at $27.39.