Market Overview

UPDATE: JP Morgan Raises PT to $40 on Lowe's Companies on Solid Results

Share:
Related LOW
Lowe's Shares Edge Higher As Bank Of America Adds Stock To 'US1' List
Despite Disappointing Q2 Results, BMO Maintains Outperform On Lowe's
July Existing Home Sales Fall 3.2% To 5.39 Million Pace (Investor's Business Daily)

JP Morgan maintained Lowe's Companies (NYSE: LOW) with a Neutral rating and raised the price target from $37.00 to $40.00.

JP Morgan noted, "LOW posted solid results in 4Q with comps of 1.9% vs. our expectation of flat and EPS of $0.26 vs. $0.23E (an ~8% earnings beat ex-tax). Same-store sales accelerated 140 bps on a two year rate as the turnaround (100 bps), Sandy (70 bps) and housing combined to drive the sales upside. Investors reacted by driving the stock down ~5% (S&P500 down 1.8%) given the ~50% run in the stock since its August earnings report. … While management has had some difficulty with guidance in recent years and was always regarded as "a spender" we believe the selloff had more to do with valuation and expectations than a significant shift in the story."

Lowe's Companies closed at $35.86 on Monday.

Latest Ratings for LOW

DateFirmActionFromTo
Aug 2016BMO CapitalMaintainsOutperform
Aug 2016Stifel NicolausAssumesBuy
Jun 2016Morgan StanleyMaintainsOverweight

View More Analyst Ratings for LOW
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Price Target Analyst Ratings

 

Related Articles (LOW)

View Comments and Join the Discussion!