J.P. Morgan Provides Color on the Home Depot, Overweight

J.P. Morgan provided color on the Home Depot (NYSE: HD). In a research report published today, J.P. Morgan stressed its belief that the company is outperforming its rival Lowe's (NYSE: LOW).

In the report, J.P. Morgan states, "Overall we walked away more confident in our 2.5% comp forecast for 2Q and less concerned about ticket performance heading into 2H11. Moreover, we continue to think LOW is lagging HD from a sales perspective... Finally, we believe the margin opportunity) remains abundant at HD. As such, HD remains our favorite large-cap stock on a risk-adjusted basis."

At the moment, J.P. Morgan has an Overweight rating and a price target of $43 placed on the company's stock. On Wednesday, Home Depot finished the day at $34.93. Its shares lost 1.43% of its value in today's pre-market trading to stand around $34.43.