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Non-Tech : Home Depot (HD) -- Ignore unavailable to you. Want to Upgrade?

To: Craig Lacy who wrote (438)	12/15/1998 3:17:00 PM
From: Beltropolis Boy	Read Replies (1) \| Respond to of 1169

Home Depot rises on bullish sentiment December 15, 1998 02:23 PM NEW YORK, Dec 15 (Reuters) - Home Depot shares are rising on bullish sentiment about the company's fourth quarter results and the market's current aversion to apparel retailers, analysts said on Tuesday. Home Depot shares surged 2-1/4 to 53-1/8. BT Alex. Brown analyst Chris Vroom said, "The business momentum is strong going into the fourth quarter. There's a good shot that they'll beat the earnings estimates." "Home Depot is indicating that sales continue to remain strong and are at (the) high end of plan," Merrill Lynch analyst Peter Caruso said. Both analysts said falling interest rates could encourage more purchases of big-ticket items and that the company is a good alternative in retailing to apparel stocks. Warm weather has hurt sweater and coat sales at retailers. Strong performance of retail stocks this year, especially at Home Depot, has brought an influx of cash into the sector, along with day-to-day volatility in the shares, Caruso said. "They are going to kill the S&P 500," Caruso said about Home Depot's performance. Vroom noted that some fund managers could chase performance by adding Home Depot to portfolios to impress investors. "There is a great deal of interest in the names that have performed well," Vroom said. "It's up 77 percent over the past 52 weeks. The stock is one of our top two ideas."