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NEW YORK (TheStreet) -- Shares of Home Depot (HD) - Get Home Depot Inc. (The) Report are advancing by 0.14% to $133.61 on Thursday afternoon, as Barclays initiated coverage of the stock with an "overweight" rating and $150 price target.

The home improvement retail giant is based in Atlanta.

The company "dominates pro business as the consumer base that has discretionary income age and shift more towards 'do-it-for-me' (DIFM) spending," according to Barclays.

Additionally, "gross margin upside to materialize from Project Sync investments," the firm wrote in an analyst note.

Barclays, which is negative on the U.S. retail industry, favors the home improvement sector.

"Within U.S. Retail Broadlines/Hardlines, we are biased towards companies with strong/stable management teams, execution, and shareholder returns," the firm said.

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TheStreet Recommends

Separately, TheStreet Ratings Team has a "Buy" rating with a score of A- on the stock.

This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks rated.

The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, increase in net income, revenue growth and notable return on equity.

The team believes its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: HD

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