Argus analyst Chris Graja raised his price target on Lowe's (LOW) to $110 and kept his Buy rating after its Q1 results, saying the EPS miss was the function of unseasonably cold weather and can be recouped. The analyst points to the company's in-line market multiple on a trailing basis and below the 5-year median, suggesting that valuation is attractive amid the improving housing market. Graja adds that the involvement by activist investor Bill Ackman and the appointment of new CEO Marvin Ellison should help Lowe's to narrow the gap with Home Depot (HD).