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HD Home Depot $203.84 (0.00%) , LOW Lowe's $116.25 (0.00%) … 09:44 04/15/19 04/15 09:44 04/15/19 09:44 Recommendations	Home Depot, Lowe's, Floor & Decor analyst commentary at Morgan Stanley » Morgan Stanley ups Home… Morgan Stanley ups Home Depot, Lowe's price targets following contractor survey. Morgan Stanley analyst Simeon Gutman raised his price target on Floor & Decor (FND) to $38 from $36, increased his target on Home Depot (HD) to $210 from $200 and hiked his target on Lowe's (LOW) to $123 from $115 after the firm's AlphaWise Contractor Survey pointed to "tepid home improvement activity" over the past three months but 54% of those surveyed said they expect activity to improve over the next three months. The survey has generally been a reliable leading indicator of home improvement trends, said Gutman, who anticipates strong demand in the Spring. He keeps Overweight ratings on Home Depot and Lowe's and keeps an Equal Weight rating on Floor & Decor. HD Home Depot $203.84 (0.00%) LOW Lowe's $116.25 (0.00%) FND Floor & Decor $46.54 (0.00%) 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	16 Apr 02 May 21 May 22 May 29 May
LOW Lowe's $115.79 0.79 (0.69%) 08:00 04/09/19 04/09 08:00 04/09/19 08:00 Options	Lowe's call buyer realizes 1% same-day gains » Notable profits for the… Notable profits for the buyer who lifted the $18.55 offer for 9,999 Lowe's (LOW) Oct-19 100 calls yesterday at 09:45ET when underlying shares were trading at $115.51. Shares closed at $115.79, and the calls at $18.75 for a mark-to-market profit of 1%, or $200K, on the $18548K outlay. 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	22 May
ATVI Activision Blizzard $47.55 0.27 (0.57%) , BHC Bausch Health $25.81 0.685 (2.73%) … 07:35 04/09/19 04/09 07:35 04/09/19 07:35 Options	Unusual call flow in option market yesterday » Notable call activity was… Notable call activity was cited Monday in Activision Blizzard (ATVI), Bausch Health (BHC), BP (BP), Lowe's (LOW), Devon Energy (DVN), Cenovus Energy (CVE), Sea Limited (SE), Cigna (CI), Sony (SNE), and Symantec (SYMC). ATVI Activision Blizzard $47.55 0.27 (0.57%) BHC Bausch Health $25.81 0.685 (2.73%) BP BP $45.23 0.69 (1.55%) LOW Lowe's $115.79 0.79 (0.69%) DVN Devon Energy $32.04 -0.16 (-0.50%) CVE Cenovus Energy $9.65 0.265 (2.82%) SE Sea Limited $22.34 -0.65 (-2.83%) CI Cigna $167.46 1.27 (0.76%) SNE Sony $46.61 3.53 (8.19%) SYMC Symantec $24.23 1.24 (5.39%) 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	10 Apr 15 Apr 16 Apr 18 Apr 24 Apr 24 Apr 26 Apr 01 May 02 May 02 May 06 May 22 May 22 May 06 Jun
LOW Lowe's $115.50 0.5 (0.43%) 10:40 04/08/19 04/08 10:40 04/08/19 10:40 Options	Size call spread in Lowe's as a position is adjusted » Size call spread in… Size call spread in Lowe's as a position is adjusted. The stock up 52c to $115.50 and 10K Apr 87.5 calls bought $27.90 while 10K Oct 100 calls sold $18.50. The Apr 87s apparently liquidate a matching block opened at $10.29 per contract on 12/13 (rolling out of Apr 100s with shares $93.25). The stock since up 23.9% and the short calls are now being rolled to the 100-strikes in the October term. The in-the-money call writing is probably part of overwrite against stock and expresses the view that shares will see limited upside in the months ahead. Next earnings 5/22. 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	22 May
LOW Lowe's $109.94 0.19 (0.17%) 12:35 04/01/19 04/01 12:35 04/01/19 12:35 Options	Lowe's put volume heavy and directionally bearish » Bearish flow noted in… Bearish flow noted in Lowe's with 23,455 puts trading, or 7x expected. Most active are 4/5 weekly 110 puts and 4/5 weekly 108 puts, with total volume in those strikes near 6,400 contracts. The Put/Call Ratio is 2.20, while ATM IV is up nearly 2 points on the day. Earnings are expected on May 22nd. 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	22 May

BBBY Bed Bath & Beyond $17.05 -0.27 (-1.56%) , AZO AutoZone $1,026.50 21.05 (2.09%) … 08:27 04/01/19 04/01 08:27 04/01/19 08:27 Upgrade	Bed Bath & Beyond, AutoZone, BJ's Wholesale, Home Depot, Lowe's, O'Reilly Automotive, Walmart, Advance Auto Parts, Best Buy, Costco, Office Depot rating change at Citi » Bed Bath & Beyond… Bed Bath & Beyond upgraded to Neutral from Sell at Citi. Citi analyst Geoff Small upgraded Bed Bath & Beyond (BBBY) to Neutral from Sell and raised his price target for the shares to $18 from $10 after taking over coverage of the name. Citi transferred coverage of Broadlines & Hardlines Retail names to Small. The analyst assumed coverage with Buy ratings on AutoZone (AZO), BJ's Wholesale (BJ), Home Depot (HD), Lowe's (LOW), O'Reilly Automotive (ORLY) and Walmart (WMT). The U.S. consumer remains on "solid footing" amid low unemployment, rising wages, declining gas prices, manageable levels of debt, and elevated consumer confidence, Small tells investors in a research note. However, he points out that we are in the ninth year of the current economic expansion and "the possibility of a macroeconomic slowdown cannot be ignored." The analyst prefers retailers operating in "defensive sectors that are less susceptible to disruption by online competitors," namely auto parts, broadlines and home improvement retail. Small also assumed Advance Auto Parts (AAP), Best Buy (BBY), Costco (COST) and Office Depot (ODP) with Neutral ratings. BBBY Bed Bath & Beyond $17.05 -0.27 (-1.56%) AZO AutoZone $1,026.50 21.05 (2.09%) BJ BJ's Wholesale $27.38 0.3 (1.11%) HD Home Depot $192.00 2 (1.05%) LOW Lowe's $109.75 1.365 (1.26%) ORLY O'Reilly Automotive $388.57 -0.07 (-0.02%) WMT Walmart $97.69 0.52 (0.54%) AAP Advance Auto Parts $170.56 1.74 (1.03%) BBY Best Buy $71.20 0.09 (0.13%) COST Costco $242.10 0.795 (0.33%) ODP Office Depot $3.60 -0.13 (-3.49%) 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	10 Apr 16 Apr 16 Apr 16 May 21 May 22 May 30 May
LOW Lowe's $106.05 1.1 (1.05%) 07:58 03/26/19 03/26 07:58 03/26/19 07:58 Conference/Events	Lowe's management to meet with UBS » Meeting to be held in New… Meeting to be held in New York on March 27 hosted by UBS. 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	27 Mar 28 Mar 22 May

Over a month ago
LOW Lowe's $103.48 1.6 (1.57%) 07:48 03/20/19 03/20 07:48 03/20/19 07:48 Initiation	Lowe's initiated at Evercore ISI » Lowe's initiated… Lowe's initiated with an Outperform at Evercore ISI. Evercore ISI analyst Greg Melich started Lowe's with an Outperform rating and $120 base case price target, stating the he believes the market will take stock of new CEO Marvin Ellison's focus on execution, team building, and strategy. Lowe's turnaround story appears "very compelling," given that "mid-single digit sales and margin growth is not easily found in U.S. retail today," Melich stated. 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	22 May
LOW Lowe's $101.88 1.76 (1.76%) 08:29 03/19/19 03/19 08:29 03/19/19 08:29 Recommendations	Lowe's analyst commentary at Morgan Stanley » Morgan Stanley gaining… Morgan Stanley gaining confidence in Lowe's margin improvement path. 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. 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	22 May
LOW Lowe's $100.82 -0.33 (-0.33%) 07:11 03/15/19 03/15 07:11 03/15/19 07:11 Recommendations	Lowe's analyst commentary at UBS » Lowe's financial… Lowe's financial progress to accelerate beyond 2019, says UBS. UBS analyst Michael Lasser kept his Buy rating and $125 price target on Lowe's after meeting with its management, saying the "key message" was that the company is "unlocking its vast potential by addressing its shortcomings." In the near term, the analyst points to the company's "inventory investments in key pro categories that will lift its in-stocks." While he still sees "measured" financial progress in 2019, Lasser believes that Lowe's will have accelerating gains in 2020 and beyond as it scales its sales per sq ft to $370 from its recent level of $335. 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	22 May

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