Lowe’s price target raised to $250 from $230 at Loop Capital

Loop Capital analyst Laura Champine raised the firm’s price target on Lowe’s (LOW) to $250 from $230 and keeps a Hold rating on the shares. The firm is adjusting its model after the interest rate cut by the Federal Reserve, stating that while underlying demand trends for remodeling remain under significant pressure, a lower interest rate environment should boost SSS next year, the analyst tells investors in a research note. Loop adds that it is relatively bullish on Lowe’s versus Home Depot (HD) given its opportunity for performance improvement while also pointing to its higher exposure to storm-impacted areas this quarter.