Lowe’s (LOW) Could See Faster Growth Than Rival; Barron’s
March 19, 2010 11:37 AM
According to Barron’s, home improvement retailer, Lowe’s Companies, Inc. (NYSE: LOW) could see faster growth than its rival Home Depot, Inc. (NYSE: HD).
Shares of Lowe’s have seen a surge in the last year due to improvements in the U.S. economy. The company should see further growth due to an improvement in housing market, an increase in lumber prices and increasing consumer confidence. Oppenheimer analyst, Brian Nagel, says Lowe’s could see “significant acceleration in coming sales growth" in 2010.
Analysts forecast the company’s revenue to increase from $47 billion in2009 to $49 billion in 2010. They estimate 2011 revenue at $52 billion. Jordan Smyth, managing director at Edgemoor investment Advisors, believes the company has plenty of room to grow in the $695 billion retail hardware market.
