News Formal

Guggenheim downgrades Home Depot, says business investment will prevent margin expansion

  • 📰 CNBC
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 72%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Guggenheim downgraded shares of Home Depot to neutral as the firm expects the home improvement retailer's business investments to weigh on margins.

"We find it difficult to see a path to EBIT margin expansion in 2020 as both a) investment spending and b) the associated D&A drag are poised to ramp," said Guggenheim analyst Steven Forbes in a note to clients on Tuesday.

"We find it difficult to see a path to EBIT margin expansion in 2020 as both a) investment spending and b) the associated D&A drag are poised to ramp," said Guggenheim analyst Steven Forbes in a note to clients on Tuesday. Shares of Home Depot ticked more than 1% lower in extended trading following the downgrade on Tuesday.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks making the biggest moves premarket: FedEx, Anheuser-Busch, Home Depot, Shopify & moreThese are the stocks posting the largest moves before the bell.
Source: CNBC - 🏆 12. / 72 Read more »