In a report released yesterday, Jonathan Matuszewski from Jefferies maintained a Buy rating on Lowe’s (LOW – Research Report), with a price target of $309.00.
Jonathan Matuszewski has given his Buy rating due to a combination of factors that indicate positive future prospects for Lowe’s. The company’s strong performance in the professional segment, with high single-digit comparable sales growth for two consecutive quarters, suggests effective strategic initiatives such as improved inventory management and enhanced customer service. Additionally, the re-launch of the Pro Loyalty program is expected to further drive momentum by offering easier reward attainment and a more intuitive experience.
Moreover, Lowe’s has made significant strides in its online segment, with expanded same-day delivery options and an improved mobile app experience contributing to high single-digit online comparable sales growth. The introduction of new tools, such as an AI-powered home improvement advisor, is anticipated to boost conversion rates and transaction volumes. Furthermore, the DIY Loyalty Program has shown promising early results, with members significantly outspending non-members, indicating potential market share gains. These factors, combined with ongoing improvements in the freight flow process and strategic initiatives, underpin Matuszewski’s optimistic outlook for Lowe’s.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $296.00 price target.
Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is neutral on the stock.