UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on Lowe's Companies on Continued Attractive Investment

In a report published Monday, Deutsche Bank analyst Mike Baker reiterated a Buy rating on

, and raised the price target from $49.00 to $53.00. In the report, Deutsche Bank noted, “We continue to see Lowe's as an attractive investment even at current levels as company specific initiatives are starting to kick in right when the macro environment has become supportive. Execution has gotten better, but l there is still plenty of room to grow sales per foot, which is 20%+ below peak, and operating margins, which are 350 bps below peak. We maintain our Buy rating on LOW.” Lowe's Companies closed on Friday at $47.77.