Market Overview

UPDATE: Piper Jaffray Raises PT on Lowe's After Positive Acceleration in Q4 EPS

Related LOW
Nomura Initiates Coverage On Lowe's Companies, Home Depot
Benzinga's Top Initiations
Making Money With Charles Payne: 11/19/14 (Fox Business)

In a report published Tuesday, Piper Jaffray maintained Lowe's (NYSE: LOW) at Neutral and raised price target from $34.00 to $41.00.

Piper Jaffray reported that, “LOW Q4 comp of 1.9% was better than expected (consensus was 0.75%) and showed very nice acceleration on a 2- and 3-year stack basis. Importantly, comp trends strengthened in Dec/Jan as each month comped +3% despite meaningfully tougher compares. The transaction comp was slightly negative (and a modest disappointment), but the 2-year transaction trend accelerated from previous quarters as the y/y weather compare was difficult. All in, Q4 results did nothing to disprove our thesis that a multi-year home remodeling cycle is gaining strength heading into 2013 and we look for the industry backdrop to become a more positive driver in the coming months.”

Lowe's shares closed at $35.86 on Monday.

Latest Ratings for LOW

DateFirmActionFromTo
Dec 2014NomuraInitiates Coverage onNeutral
Dec 2014CitigroupMaintainsNeutral
Dec 2014BarclaysMaintainsEqual-weight

View More Analyst Ratings for LOW
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Price Target Analyst Ratings

 

Related Articles (LOW)

Around the Web, We're Loving...

Get Benzinga's Newsletters