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  • September 27, 2022

© Reuters

By Sam Boughedda

In a note on Tuesday, a Morgan Stanley analyst provided positive commentary on home improvement stocks, saying the sector is “better than you think.”

“Our updated regression-based ‘Trend’ Demand model suggests reversion of ‘excess’ dollars is almost complete. Based on inputs from U.S. Econ and Housing strategists, we expect the Home Improvement category to grow 1.4% in ’23, meaning HD and LOW could comp positively if they hold share,” wrote the analyst.

He explained that the market may be looking for a multi-year reversion, but the category could grow again in 2023.

“Based on forecasts

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