ISI Group Reiterates Hold Rating, $37 PT on Lowe's Companies
In a report published Friday, ISI Group reiterated its Hold rating and $37.00 price target on Lowe's Companies (NYSE: LOW).
ISI Group noted, “LOW outlined a similar, yet refined path to the 2015 target highlighted last year - while much work remains to be done, the plan seems achievable if the macro is accommodative. The focus remains on improving asset productivity (both stores and inventory), while making the shopping experience simpler. LOW played down assumptions on macro traffic and ticket, and focused on how the new customer development model and assortment should improve close rates. While LOW is a year further into the process, early success may not be indicative of where LOW could be in 2015 - with a target on $8B in revenue growth or 4.9% avg topline through 2015, LOW has much ground to cover.”
Lowe's Companies closed on Thursday at $35.20.
Latest Ratings for LOW
|Apr 2015||Cantor Fitzgerald||Initiates Coverage on||Hold|
|Apr 2015||Piper Jaffray||Upgrades||Neutral||Overweight|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.