Home Depot (HD)'s Downgrade Should be Put in the Wayback Machine, Says Jim Cramer

We recently published 16 Latest Stocks on Jim Cramer’s Radar. The Home Depot, Inc. (NYSE:HD) is one of the stocks on Jim Cramer's radar.

The Home Depot, Inc. (NYSE:HD) is one of the largest home improvement retailers in America. Cramer frequently discusses the firm, and in a September appearance, opined that the shares could appreciate in the aftermath of a Fed interest rate cut. In this appearance, he discussed Stifel’s coverage of The Home Depot, Inc. (NYSE:HD)’s shares, which cut the rating to Hold from Buy ahead of earnings:

“That Stifel downgrade of Home Depot. Make it a hundred points ago. Put it in the wayback machine. Don’t do it now. What are you gonna do, catch the last 20 points down? Then the Fed eases and you’re saying well I told people to get out of the greatest story that you ever own when you have a Fed easing? The one that in 2007 and 2008 bought back a ton of stock because they had such conviction that they’d make it through.

“[On a nagging discussion about HD and deportation] There is and that is, that’s something that they’re going to have to address. And that is the existential worry, because if that really is where they’re targeting, and they are targeting, that would be, that is a bad thing, I mean what’re you going to say, it’s a bad thing for Home Depot.”

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