) to neutral from buy.
Analyst Aram Rubinson says that although Home Depot remains attractive on number of valuation metrics, without a catalyst to raise his price target -- and amid growing concerns about a growing gap between customer traffic and sales tickets, he downgraded the stock. With the company posting two consecutive quarters of 7% comparable-store growth, Rubinson believes Wall Street is no longer likely to be surprised by good performance from Home Depot. Even though the stock appears cheap at 16 times his fiscal 2005 EPS estimate, earnings concerns make the analyst neutral on the stock. Rubinson maintains his $37 price target.