JP Morgan Downgrades Lowe's Companies

JP Morgan commented on Lowe's Companies

in a report released today. In the report, JP Morgan was mixed in its assessment of the company. JP Morgan writes, "We are downgrading LOW to Neutral from Overweight due to the following: (1) we believe that comp risk is rising for the company, both in the near and medium term, driven by weather, macro, and execution concerns; (2) margin expansion becomes more sales-leverage driven once LOW anniversaries the initial round of pricing benefits in 3Q; and (3) a balanced risk-reward." JP Morgan currently has a Neutral rating on Lowe's Companies and a price target of $26. Shares of Lowe's Companies closed at $23.40 on Friday.