Lowe’s price target lowered to $295 from $308 at Truist

Truist lowered the firm’s price target on Lowe’s (LOW) to $295 from $308 and keeps a Buy rating on the shares. The company’s Q4 results were better than the firm’s above-Street forecast and Lowe’s put in its first positive comp since Q3 of 2022, but while Pros again posted high single digit comps, DIY big-ticket/discretionary remains pressured, the analyst tells investors in a research note. Truist adds however that the natural aging/maintenance cycle is reasserting and providing base demand, while improved confidence and acclimation to higher rates should accelerate home improvement growth.