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Fly News Breaks for March 19, 2019
LOW
Mar 19, 2019 | 08:29 EDT
Morgan Stanley analyst Simeon Gutman said his Lowe's store checks point to multiple positive changes and that his conversations with CEO Marvin Ellison and CFO David Denton reaffirm the store-level improvements he has observed, leading him to gain confidence in the company's path to higher margins. Though he said "turnarounds are never easy," Gutman believes Lowe's seems to have a reasonable amount of "low hanging fruit." He maintains an Overweight rating and $115 price target on Lowe's shares.
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