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Fly News Breaks for May 24, 2019
HD, LOW
May 24, 2019 | 07:24 EDT
SunTrust analyst Keith Hughes lowered his price target on Lowe's to $120, saying that while the company's Q1 comps were better than expected, lower margins from "insufficient pricing visibility" made the earnings miss worse in highlighting the "disorganization" in the management's turnaround efforts. The analyst keeps his Buy rating on Lowe's, but acknowledges that the recovery will not be a "quick story", even though he is positive on the re-set of expectations and maintains that the 10% projected earnings growth this year still tops Home Depot's (HD) expected flat growth.
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