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Fly News Breaks for May 10, 2019
LOW
May 10, 2019 | 07:09 EDT
Wells Fargo analyst Zachary Fadem noted that Lowe's shares are down 5% in the past week, which he blames on weather concerns and renewed tariff fears. While Fadem lowered his Q1 comp growth estimate to 2.4% cut his EPS estimate to $1.32, and noted that both are now below consensus, he said he views the pullback as a buying opportunity ahead of easing comparisons for the remainder of the year and self-help initiatives that he expects to drive improving results. Fadem keeps an Outperform rating on Lowe's ahead of the company's earnings report on May 22.
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