UPDATE: Bank of America Reiterates Buy Rating on Lowe's, Factors In Stronger Comps
In a report published Tuesday, Bank of America reiterated its Buy rating on Lowe's (NYSE: LOW) with a $43.00 price target.
Bank of America reported that, “LOW's 4Q EPS of $0.26 was broadly in line with our above-market forecast of $0.28 (vs consensus of $0.23) after accounting for a week shift which negatively impacted sales by $0.02. Comps of 1.9% (vs 0.5% LY) were slightly below our forecast of 3%, on a less-than-expected benefit from Hurricane Sandy given the late passage of the Sandy Bill in January. Ticket again drove comps."
Lowe's closed at $35.86 on Monday.
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