Lowe’s upgraded to Overweight from Neutral at JPMorgan

JPMorgan analyst Christopher Horvers upgraded Lowe’s to Overweight from Neutral with a price target of $265, up from $210. The analyst also added the shares to the firm’s adding Analyst Focus List as a value stock idea. The analyst continues to believe Lowe’s goods share of wallet headwinds are moderating with trends ultimately reverting back toward wage growth. Moreover, the company’s largest category appliances is further along in the deflation process, the analyst tells investors in a research note. The firm recommends buying the shares ahead of the last estimate cut.