** Oppenheimer raises price targets on home improvement chains Home Depot HD.N and Lowe's LOW.N on comparable sales optimism

** Brokerage raises Home Depot to $420 from $400, a 2.5% upside to stock's last close

** Raises Lowe's PT to $320 from $305, a 24.6% upside to stock's last close

** "Data suggest that underlying consumer demand within home improvement has stabilized, with shoppers now reacting more positively to key selling events" - Oppenheimer

** However, elevated lending rates, particularly against a still precarious discretionary spending backdrop, could continue to limit sales growth rebound prospects for HD and LOW - brokerage

** Including session moves, LOW shares up 3.5%, while HD shares up about 5% YTD

(Reporting by Parth Chandna)

((Parth.Chandna@thomsonreuters.com;))