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UPDATE: Deutsche Bank Raises PT on Lowe's after 4Q Results

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In a report published Tuesday, Deutsche Bank reiterated Lowe's (NYSE: LOW) with a Buy rating and raises price target from $39.00 to $41.00.

Deutsche Bank reported, “We are tweaking our FY13 and FY14 EPS estimates to $2.15 and $2.54 from $2.17 and $2.56 and see long term earnings power of about $3.50. This equates to long term EPS growth of 18%, 8% from EBIT and the rest from buybacks. Our 2013 estimate is ahead of guidance, which we view as beatable. Our new price target is $41, based on a 16x P/E on our FY14 estimate. The biggest risk in our view is weakening housing markets, as well as a reduction in the benefit of company specific comp initiatives.”

Lowe's shares closed at $35.86 on Monday.

Latest Ratings for LOW

DateFirmActionFromTo
Feb 2017BernsteinInitiates Coverage OnUnderperform
Dec 2016CitigroupDowngradesBuyNeutral
Nov 2016Telsey Advisory GroupDowngradesOutperformMarket Perform

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Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

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