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Fly News Breaks for May 24, 2018
LOW
May 24, 2018 | 08:38 EDT
Wedbush analyst Seth Basham raised his price target for Lowe's to $92 from $85 to reflect higher potential of a turnaround in the medium-term. However, the analyst believes the company's Q1 results point to continued pressure on sales comps and margins, even when excluding the effects from weather. Incoming CEO Marvin Ellison is a "strong leader" that should help drive improvement at Lowe's, but it will take time, he contends. Basham reiterates a Neutral rating on the shares.
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