Oppenheimer sees clearer skies for Home Depot, Lowe's in hurricane aftermath
** Oppenheimer says home improvement retailers Home Depot HD.N and Lowe's LOW.N are "well-positioned" to assist homeowners impacted by Hurricanes Helene and Milton
** Brokerage says management at LOW and HD noted that units of both companies in hurricane-affected areas are fully operational following brief closures
** Says the companies' sales grew above $100 mln to $250 mln in the past after major weather events and the recent hurricane-related damages would result in a 100-150 bps gain in Q4 and FY25 comparable store sales for HD and LOW
** However, Oppenheimer expects a rise in expenses related to repositioned inventory and employees to offset gains in sales after the recent weather events
** HD and LOW are set to report Q3 results in mid-November
** Up to Tuesday's close, LOW had risen ~26% YTD, while HD was up 20%
Reporting by Neil J Kanatt in Bengaluru
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