'Under the guidance of the new CEO, Lowe's is getting its act together,' says Oppenheimer's Brian Nagel. 'If we're right here and this continues, this stock has a long way to run.'
"It seems under the guidance of the new CEO, Lowe's is getting its act together — and frankly, if we're right here and this continues, this stock has a long way to run," Nagel said."Home Depot [is] a very quality company; under valued stock even with yesterday's bounce. Lowe's [is a] turnaround opportunity," he said. "Two different types of investment vehicles, but I don't think you'd be hurt owning them both here.
On Tuesday, Home Depot shares surged 4.4% after the company beat estimates with second-quarter earnings. However, revenue did fall short of expectations, and the company also lowered its sales outlook for the year on concerns about the U.S.-China trade war slowing consumer spending.
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