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Fly News Breaks for February 26, 2020
Feb 26, 2020 | 15:16 EDT
Baird analyst Peter Benedict maintained an Outperform rating and $145 price target on Lowe's (LOW) following the company's Q4 earnings report. The analyst said that Lowe's 2.6% U.S. comp was "disappointing" compared to Home Depot's (HD) 5.3%, but said that much of that is due to Lowe's lack of digital contribution, which he believes should improve in the second half of the year. Benedict feels the company's transition remains on track, citing "several incremental initiatives on tap to drive comps, improve service levels, and enhance productivity," and would be a buyer on the stock's pullback.
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