In a report published Monday, Morgan Stanley analyst Simeon Gutman reiterated an Equal-Weight rating on Lowe's Companies LOW, and raised the price target from $64.00 to $71.00.
In the report, Morgan Stanley noted, “LOW will likely stick to its 2015 EBIT margin goal of 9.7% and lay out new 3-year financial targets. Even if 9.7% is not realized next year (theStreet is at 9.3%), annual EPS growth should be high-teens+ for the forseeable future, implying a still solid risk/reward.”
Lowe's Companies closed on Friday at $64.86.
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