In a recent report, Deutsche Bank analyst Mike Baker shared a update on Lowe's Companies, Inc. LOW, slightly boosting his estimates for 2016 and 2017, seeking to reflect the deal Rona accretion.
This accretion is somewhat offset by a faintly more conservative view of comps, given the firm’s experts’ belief that near-term trends have been strong. However, comps aren't at first quarter levels, the note added.
The firm made a similar revision to its near term estimates for Home Depot Inc HD.
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The analysts decided to update their “appliance share analysis with some new industry data showing that Sears’ struggles remain a source of potential comp gain for LOW, HD and Best Buy.”
Deutsche Bank maintains a Buy rating on shares of Lowe’s, with an $86 price target. The firm also rates Home Depot a Buy, with a $143 price target.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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