Lowe’s price target raised to $205 from $200 at Loop Capital

Loop Capital analyst Laura Champine raised the firm’s price target on Lowe’s to $205 from $200 but keeps a Hold rating on the shares. The analyst is citing the company’s commentary at the firm’s investor conference, stating that it sees no meaningful macro-related slowdown to date. Loop is also updating its FY23 sales projections, calling for 7% decline vs. 8% prior, but believes that slowing growth is likely to limit stock appreciation potential over the next 12 months even given the current forward earnings multiple of 14-times.