Brian Nagel, retail analyst at UBS offered advice on different home improvement stocks that could help benefit investors.
Recommendations:
Lowes —“I think we’re seeing some signs of stabilization [in the housing market] which would be quite good for the shares, particularly Lowes. It is the market share grabbing company. They’re consistently taking the market share from Home Depot.”
Bed Bath and Beyond —“Bed Bath and Beyond is taking a lot of share from Linens-n-Things, their primary competitor which is now bankrupt and has been closing stores. I think they will continue to close a lot more stores. That’s going to be a huge market share benefit for Bed Bath and Beyond over time.”
Disclosure
Brian Nagel’s assistant has an ownership position in Lowe’s. No immediate disclosure information was available for Bed Bath and Beyond.
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