In a report issued Wednesday, Canaccord downgraded its rating of Lowe's Companies Inc. LOW from Hold to Sell with a new target price of $37.
Analyst Laura Champine sees that a loss of experience in merchandising and customer experience will greatly effect Lowe's. In addition Champine estimates a reduction in the growth rate from 5 percent to 3 percent.
In addition to in house issues, tough competition and a bad housing market will also play a role in a bleak future for Lowe's.
Lowe's is down 0.9 percent to $47.35 in pre-market activity.
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