Shares of HD Supply (HDS) were lower Tuesday after the stock was downgraded to SECTOR PERFORM from OUTPERFORM at RBC Capital Markets. The firm also lowered its price target to $35 from $43. Analysts with RBC expect the stock will be range-bound in the coming months as the industrial distributor moves to right the ship. The analyst team said it could take several quarters for HD Supply to address supply chain problems and restore investor confidence.
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