Goldman Sachs Cuts Estimates On Home Improvement Stocks (LOW, HD)

In a research report released this morning, Goldman Sachs' GS analysts said that they are lowering estimates on Home Improvement stocks. The firm's price target on Home Depot HD goes from $38 to $34 and their target on Lowe's LOW has been lowered from $29 to $25. The analysts wrote that "long-term macro metrics, most notably residential investment/GDP, remain near long-run floors; we do not expect another run of same-store declines." Goldman Sachs believes that the risk/reward profile for these stocks is attractive. During today's trading session, Home Depot (HD) has gained 1.12% to $28.07 and Lowe's has jumped 1.09% to $20.49.