Home Depot (HD) Stock Is Coming Back, Says Jim Cramer

We recently published 12 Stocks on Jim Cramer’s Radar. The Home Depot, Inc. (NYSE:HD) is one of the stocks on Jim Cramer's radar.

Home improvement retailer The Home Depot, Inc. (NYSE:HD)’s shares are down by 5.5% over the past year and are up by 11.3% year-to-date. UBS discussed the firm in late February. The bank reiterated a Buy rating and a $430 share price target for The Home Depot, Inc. (NYSE:HD). UBS’ coverage explained that the retailer could improve its performance once its market conditions improve. However, even though the homebuilding sector has struggled, Cramer expressed faith in The Home Depot, Inc. (NYSE:HD) in early January. While the CNBC TV host expressed hesitation about buying homebuilding stocks, he did remark that “I do want to own the stock of Home Depot.” In this episode, he commented on the impact of high interest rates on the sector. Cramer asserted that low interest rates can help these stocks and added that President Trump’s pick for the Fed Chair, Kevin Warsh, could play a role:

“My charitable trust owns Home Depot. Frankly it’s not been that good a stock but it’s coming back. And it’s coming back because there’s a belief that Warsh is going to help this industry.”

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Disclosure: None. This article is originally published at Insider Monkey.