Following the announcement of a CEO transition at Lowe's (LOW), Morgan Stanley analyst Simeon Gutman looked at recent management changes at two large-cap Hardline retailers - Best Buy (BBY) and Advance Auto Parts (AAP) - as case studies searching for signs of what to expect at the home improvement retailer. While acknowledging that each situation is unique, Gutman also pointed out what he sees as "a few interesting similarities." The analyst noted that Best Buy had a tough first three months following the installment of Hubert Joly, but then the stock increased 200% in the following nine months, leaving the stock up 100% in the first 12 months of Joly's tenure. Advance Auto also initially dipped in the month following the onboarding of CEO Tom Greco, but then it rose 21% in the next seven months, noted Gutman. The analyst, who also noted that Lowe's multiple on 2019 EPS estimates is among the lowest compared to nearly all large cap retailers, keeps his Overweight rating on the shares.