In a report published Wednesday, Oppenheimer analyst Brian Nagel reiterated a Perform rating and $48.00 price target on Lowe's Companies LOW.
In the report, Oppenheimer noted, “We believe that it is unfortunate for LOW that Home Depot (HD) reported Q3 (Oct.) results yesterday. The Q3 figures that LOW announced today are quite impressive. Comparable-store sales rose a better than expected 6.2%, and EPS of $0.47 essentially met a Street forecast of $0.48 and marked a 19% increase from $0.40 last year. The market, however, does not look upon LOW in isolation. Instead, we compare and contrast trends at LOW to those of HD and vice versa, and again, HD performed better. LOW continues to capitalize upon a strengthening US housing market and a number of key internal initiatives. Our Perform rating reflects valuation and the ongoing performance gap with HD.”
Lowe's Companies closed on Tuesday at $50.44.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Posted In: Analyst ColorReiterationAnalyst RatingsBrian NagelConsumer DiscretionaryHome Improvement RetailOppenheimer
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in