LOW To Witness Positive Comps During Mid-2010

Analysts at RBC Capital Markets maintain their "outperform" rating on Lowe's Companies Inc (NYSE: LOW). The target price for LOW has been raised from $24 to $28.

According to RBC Capital Markets, Lowe's Companies is well positioned to benefit from a turnaround in the home improvement industry. The analysts believe that there will be a significant recovery in the home improvement market, once the home investment market recovers.

The analysts expect Lowe's Companies to witness positive comps during mid-2010. Despite the challenging credit markets, there are signs of improvement in big ticket sales. Consumers are more willing to invest in their houses due to the moderation in the decline of home values, the analysts add.