Lowe's On Right Track With Its Long-Terms Goals In Place, Says Analyst

Telsey Advisory Group analyst Joseph Feldman reiterates an Outperform rating on the shares of Lowe’s Companies Inc LOW and lowered the price target from $255 to $250.
The company announced long-term growth strategies at its investor conference on December 8, 2022.
The analyst reveals confidence in Lowe's ability to remain a retail winner for the foreseeable future, given its solid growth and productivity initiatives.
The financial targets for 2023 and beyond seem achievable based on the strategic plan put forth by the company.
Lowe's is on track to continue to gain market share in 2023, the analyst adds.
Lowe's, the analyst notes, has been benefiting from consumers spending more time at home since the pandemic, inflation, and strong execution of its solid strategic initiatives.
The analyst credits CEO Marvin Ellison for assembling a strong senior leadership team to successfully execute the strategic plan and overall corporate transformation.
The analyst, in total, believes the company remains well-positioned to fix legacy issues, gain market share in the fragmented home improvement industry, expand its operating margin, and generate relatively solid earnings growth.
The analyst's positive view of Lowe's is unchanged, as the company is not slowing the pace of its investments and remains focused on increasing its market share and improving sales productivity and operating efficiency.
Price Action: LOW shares are trading lower by 1.78% at $203.21 on the last check Thursday.

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