BTIG Affirms Lowe's (LOW) at 'Buy' Amid Light Q3 Results, Weaker Outlook

November 16, 2016 8:26 AM EST
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Price: $72.31 +1.85%

Rating Summary:
    12 Buy, 16 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 11 | Down: 31 | New: 42
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BTIG affirms Lowe's Cos. (NYSE: LOW) at Buy with a price target of $80 following Q3 results and lowered outlook issued earlier Wednesday.

Thefirm commented today: 3Q16: Operating EPS of $0.88 below our in-line estimate of $0.96. Comps of 2.7% were slightly better than our 2.5% estimate. Company lowers full year comp guidance from 4% to 3-4%, and sales guidance from 10% to 9-10%. Lowers 2016 Non-GAAP operating EPS guidance to $3.91 from $4.01. Recall we lowered our comp and EPS estimates for 2016-2018 as well as our PT on November 9. Our estimates are under review.

We expect shares to be weak given that LOW’s missed our recently lowered estimates, BTIG noted.

For an analyst ratings summary and ratings history on Lowe's click here. For more ratings news on Lowe's click here.



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