Lowe's Performance To Dip As Home Improvement Market Faces Economic Headwinds: Analyst

Grand News Network | November 7, 2023

RBC Capital Markets analyst Steven Shemesh initiated coverage on Lowe's Companies, Inc. (NYSE: LOW) with a Sector Perform rating and a price target of $194.

The analyst says while Lowe's under-penetration in its Pro business presents a share gain/margin opportunity in the long term, it will likely result in underperformance vs. peers in the near term as the consumer backdrop worsens.

Notably, Shemesh expects Loews' sales mix (currently 75% accounts for DIY/DIFM) to result in disproportionate softness in the ...

Full story available on Benzinga.com

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