Fly News Breaks for August 22, 2019
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.
News For LOW From the Last 2 Days
Sep 16, 2019 | 09:15 EDT
RBC Capital analyst Scot Ciccarelli raised his price target on Lowe's to $129 and kept his Outperform rating, saying that after "volatile, comedy-of-errors" Q1, its management appears to have addressed the company's major challenges. The analyst notes that the management continues to make the necessary improvements to generate sales activity in Lowe's Pro business, which he sees as "key" to its turnaround efforts. Based on the "stable" home improvement environment and the company's margin expansion potential, Ciccarelli is positive on Lowe's shares.