Lowe’s price target raised to $308 from $307 at Truist

Truist raised the firm’s price target on Lowe’s (LOW) to $308 from $307 and keeps a Buy rating on the shares as part of a broader research note on select Consumer names. Based on the latest Truist Card Data, the firm is boosting its comps forecast for the company to down 1% from down 2%, noting that solid momentum has continued in Q4 from Q3, the analyst tells investors in a research note. The combination of consumer adjustments to the current inflation/interest rate environment, the digestion of pull forward demand and the continued rise in home equity values provide homeowners with material “dry powder” to accelerate investments into their homes, the firm adds.