Home Depot's Credit Card Hacking: What Wall Street's Saying

NEW YORK (TheStreet) - Home Depot (HD) confirmed that it was the target of a credit card security breach that involved its U.S. and Canadian stores.

The Atlanta-based do-it-yourself retailer said in a regulatory filing that its "payment data systems have been breached, which could potentially affect customers using payment cards at its U.S. and Canadian stores. There is no evidence that the breach has affected stores in Mexico or customers who shopped online at HomeDepot.com." As of right now, there is no evidence that debit PIN numbers were compromised, the filing said.

The investigation, which began on September 2, is being focused on credit card activity beginning in April. "The company has taken aggressive steps to address the malware and protect customer data," the filing said. Home Depot is offering free identity protection services, including credit monitoring, to any customer who used a payment card at a store since April.

Home Depot had previously confirmed it will roll out a "Chip and PIN" to all U.S. stores by the end of this year, "well in advance of the October 2015 deadline established by the payments industry," the filing said.

Read More: How Bad Is the Home Depot Breach, and What Will It Do to the Stock?

Shares fell 1.3% to $89.60 on Tuesday. Here's what Wall Street analysts are saying about Home Depot.

Brian Nagel, Oppenheimer (Outperform; $101 PT)

Yesterday (9/8) after the close, Home Depot confirmed that the company's payment data system has been breached. Given persistent headlines over the past week, we do not expect HD's confirmation of a breach to prove news to investors. The extent of the damage to HD might not be known for some time. We continue to look upon any breach-related stock price weakness as a buying opportunity. Investors should look beyond a likely one-time charge, in our view. Consumers are turning hardened to the risks and annoyances of cyber hacking. HD enjoys a solid standing with shoppers and the benefits of a more captive consumer. HD is unlikely to quantify any potential sales disruption until the chain announces Q3 (Oct.) results in mid-Nov.

Read More: Jim Cramer Says Use Weakness in Home Depot to Buy Home Depot

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