Evercore ISI added Lowe’s (LOW) to the firm’s “Tactical Outperform List” while keeping an In Line rating on the shares with a $290 price target into the Q4 report. Reaffirming guidance around the company’s 1% comp base case from December’s analyst day will be well received by investors “given the wall of worries” around higher rates, slipping pending home sales, and a “plethora” of macro uncertainties, the analyst tells investors in a research note. Evercore believes expectations have come down enough for the risk to tilt towards the upside on the stock.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LOW:
- Buy Recommendation for Lowe’s: Strong Comparable Sales and Seasonal Opportunities Highlight Growth Potential
- Lowe’s price target raised to $308 from $307 at Truist
- Beacon price target raised to $131 at Stifel with takeover in play
- Lowe’s price target lowered to $293 from $304 at Bernstein
- McDonald’s (MCD) Scales Back DEI Initiatives Under Activist Pressure
Questions or Comments about the article? Write to editor@tipranks.com