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Fly News Breaks for August 22, 2019
LOW
Aug 22, 2019 | 08:04 EDT
Wedbush analyst Seth Basham raised his price target for Lowe's to $115 from $105 after the company delivered Q2 results that beat expectations on the top- and bottom-lines, indicating progress on improving retail fundamentals under CEO Marvin Ellison. While Basham acknowledges that the renewed momentum is promising, he cautions that retail turnarounds rarely follow a straight line, and the short-term move of rapidly increasing inventory to the benefit of sales and margins needs be monitored. He reiterates a Neutral rating on the shares.
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