Market Overview

UPDATE: Lowe's Downgraded At Canaccord Amid Management Changes

Share:
Related LOW
Top 4 Stocks In The Home Improvement Stores Industry With The Highest Profit Margin
Expert: Alibaba's Jack Ma Won't Pick A Fight With Jeff Bezos
Lumber Liquidators: Fearful or Greedy? (GuruFocus)

In a report issued Wednesday, Canaccord downgraded its rating of Lowe's Companies (NYSE: LOW) from Hold to Sell with a new target price of $37.

Analyst Laura Champine sees that a loss of experience in merchandising and customer experience will greatly affect Lowe's. Champine estimates a reduction in the growth rate from five percent to three percent.

In addition to in-house issues, tough competition and a bad housing market will also play a role in a bleak future for Lowe's.

Lowe's is down 0.9 percent to $47.35 in pre-market activity.

Latest Ratings for LOW

DateFirmActionFromTo
Jan 2015Morgan StanleyUpgradesEqual-weightOverweight
Jan 2015Deutsche BankMaintainsBuy
Dec 2014NomuraInitiates Coverage onNeutral

View More Analyst Ratings for LOW
View the Latest Analyst Ratings

Posted-In: Canaccord Laura ChampineAnalyst Color News Downgrades Analyst Ratings

 

Related Articles (LOW)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Benzinga Professional