Barry Sternlicht Recommends Lowe's

Benzinga is currently covering the

conference in downtown Chicago, which is one of Chicago's premier investable ideas events. 100% of all proceeds raised from the event are donated to Chicago-based charities – mainly focusing on children's needs. One of the event's speakers, Barry Sternlicht, Chairman of Starwood Capital Group, has just named Lowe's

as his favorite equity in the current market. Sternlicht cited an inevitable rebound in the residential housing market, as well as a low company valuation as reasons for the pick. Sternlicht also noted that he prefers Lowe's over competitor Home Depot

due to the company's plan to purchase 70% of its outstanding shares over the next four years - a move which he says is virtually unprecedented.