Lowe's Cos. (LOW): Look Past The Weaker 2Q - Oppenheimer
Get Alerts LOW Hot Sheet
Rating Summary:
19 Buy, 26 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Oppenheimer analyst, Brian Nagel, reiterated his Outperform rating on shares of Lowe's (NYSE: LOW) noting that on Aug. 17th, LOW disappointed investors with a weaker than expected Q2 (July) report. The analyst closely studied recent trends at LOW and other sector data points. While less than stringent operational controls at LOW are frustrating, the analyst has the view that recent sales weakness at LOW reflects primarily unfavorable weather.
The analyst recommends using the weakness to acquire shares and stated "At current levels, LOW now trades at about 17.5x NTM consensus EPS forecasts and a P/E multiple relative to that of the S&P 500 of about 1.0x (also using Street forecasts), marking the lowest level in the metric since mid-2012."
No change to the price target of $94.
For an analyst ratings summary and ratings history on Lowe's click here. For more ratings news on Lowe's click here.
Shares of Lowe's closed at $77.47 yesterday.
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