Jim Cramer on Home Depot: “The Stock’s a Buy If You Believe the Fed Will Cut Rates Next Month”

The Home Depot, Inc. (NYSE:HD) is one of the stocks in focus as Jim Cramer laid out this week’s game plan. Cramer highlighted the stock’s downgrade by Stifel, as he said:

“… We got the first of some very big earnings reports on Tuesday morning when we get Home Depot. Now this morning, Stifel downgraded the stock from Buy to Hold, noting that their business could be exceptionally weak, not just because of the lack of housing turnover, but also because ICE keeps targeting the day laborers who hang out at Home Depot parking lots. Of course, anything connected to housing is joined at the hip with interest rates.

So the stock’s a buy if you believe the Fed will cut rates next month, as I do. I have liked the despot for years and years… In my book, How to Make Money in Any Market, I stress that growth stocks are the only truly safe stocks, and I’m going to include Home Depot because, as long as housing prices have gone higher, which they sure have, you’re going to see some growth from that trend for many, many years.”

Photo by Adam Nowakowski on Unsplash

The Home Depot, Inc. (NYSE:HD) is a home improvement retailer of building materials, decor, lawn and garden products, and maintenance supplies. In addition, it provides installation, tool rental, and online specialty services.

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