Oppenheimer downgraded Home Depot and Lowe's to perform from outperform, cutting its price targets on both names.
On a more upbeat note, Goldman Sachs upgraded Brazilian payments stock StoneCo, calling for more gains ahead after a strong 2023.
"While lululemon's fundamentals are undoubtedly best-in-class, we do not see the valuation as compelling enough for us to recommend investors buy at current share price levels."
Oppenheimer's forecast implies roughly 5% downside moving forward for Home Depot stock and 5% upside for Lowe's.
Shares of Home Depot have added 5% so far this year while Lowe's stock has slipped more than 1%.
Persons:
Oppenheimer, Lowe's, Goldman Sachs, Hunt, Thomas Wadewitz, Brian Evans, Morgan Stanley, Morgan Stanley's, Lisa De Neve, — Brian Evans, Lululemon, LULU 1Y, Anne, Laure Bismuth, Brian Nagel, Tito Labarta, Labarta, — Fred Imbert
Organizations:
CNBC, UBS, HSBC downgrades, HSBC, Lowe's, Home Depot
Locations:
Hunt, J.B, LULU, Brazil