Morgan Stanley analysts upgraded Lowe’s LOW to Overweight today ahead of data on the U.S. housing market at 8:30 a.m. ET. The analysts noted that they were impressed by Lowe’s merchant revamp and in-store execution - investments that they believe the company is now poised to benefit from.
Morgan Stanley says that it expects EPS to grow at 20 percent with EBIT margins in the low 9 percent range. “This type of growth for a well run large-cap retailer with housing tailwinds and strong free cash flow should enable shares to move higher,” the analysts said.
Shares of Lowe’s have roared higher over the past year – gaining nearly 40 percent. Shares are 5 percent below their 52-week high.
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