Lowe's: Jefferies still a buyer after quarterly results

(CercleFinance.com) - While actually trimming its target price for the share from $266 to $265, Jefferies reinstates its "buy" rating on Lowe's Companies, finding "Expense Discipline Admirable Particularly in the
Face of Soft DIY Backdrop".


"With comp outperformance in 1H coupled with effective cost management, we have high conviction in the midpoint of guidance being attained, with the high-end more likely than the low-end," the broker says.

"As homeowners seek instant graification projects and normalizing lumber ignites the resumption of projects," Jefferies sees comparable growth in the low single-digit percentage range for FY 2024.


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