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.
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