Fly News Breaks for August 22, 2019
Aug 22, 2019 | 07:16 EDT
KeyBanc analyst Bradley Thomas raised his price target for Lowe's to $125 from $120 as Q2 sales and EPS were better than expected, demonstrating improvement in gross margin issues faced in Q1 while building new momentum in its "turnaround" under new management. The analyst believes Lowe's remains a self-help story, under the leadership of new CEO Marvin Ellison, and he looks for numerous initiatives to ramp through 2020. Thomas reiterates an Overweight rating on the shares.
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