BUZZ-Street View: SRS Distribution deal to boost Home Depot's pro-business growth

Reuters04-01

** Home improvement retailer Home Depot said on Thursday it would buy building products supplier SRS Distribution in $18.25 bln deal

** At least six brokerages raise PT on the stock; their median PT is $390 - LSEG data

DEAL TO LIFT HD'S PRO-BUSINESS

** D.A. Davidson ("neutral", PT: $370) notes the deal would accelerate HD's focus on pro-customer base and complement its existing business, benefiting it in both professional and Do-It-Yourself (DIY) verticals

** Wedbush ("outperform", PT: $125) sees "potential for medium-term distribution synergies" that could lead to cost savings and better customer service

** Citigroup ("buy", PT: $415) says the deal would increase HD's supply chain capabilities as well as enhance its sales and earnings growth

** Adds, although SRS business carries a lower margin profile, "we still believe it's the right move for HD to be TAM-focused at this point in its maturity curve"

** Telsey Advisory Group ("market perform", PT: $360) says "we await clearer signs of improvement in housing market and consumers taking up big projects" as near-term demand in home improvement environment remains soft

(Reporting by Anuja Bharat Mistry in Bengaluru)

((AnujaBharat.Mistry@thomsonreuters.com))

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