Barclays Maintains an 'Equalweight' on Lowe's (LOW); More Buybacks on the Horizon?
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Price: $229.96 -0.14%
Rating Summary:
19 Buy, 26 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
19 Buy, 26 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Barclays maintains an 'Equalweight' on Lowe's (NYSE: LOW) price target of $23.00.
Barclays analyst says, "We believe the potential exists for Lowe's to soon announce a new buyback program, possibly similar in size and timing to the previous buyback program. Lowe's reported in its 2Q earnings release that it had made $1.4 billion in buybacks in 2Q, successfully completing the $5 billion buyback program that it had announced on February 22, 2010."
"We believe that Lowe's, while less ROIC-focused than Home Depot, will continue to opportunistically buy back shares and work to enhance shareholder value, as evidenced by management's decision to complete the February 2010 buyback authorization in one and a half years...We continue to rate Lowe's Equal Weight and Home Depot (NYSE: HD) Overweight."
For more ratings news on Lowe's click here and for the rating history of Lowe's click here.
Shares of Lowe's closed at $20.10 yesterday.
Barclays analyst says, "We believe the potential exists for Lowe's to soon announce a new buyback program, possibly similar in size and timing to the previous buyback program. Lowe's reported in its 2Q earnings release that it had made $1.4 billion in buybacks in 2Q, successfully completing the $5 billion buyback program that it had announced on February 22, 2010."
"We believe that Lowe's, while less ROIC-focused than Home Depot, will continue to opportunistically buy back shares and work to enhance shareholder value, as evidenced by management's decision to complete the February 2010 buyback authorization in one and a half years...We continue to rate Lowe's Equal Weight and Home Depot (NYSE: HD) Overweight."
For more ratings news on Lowe's click here and for the rating history of Lowe's click here.
Shares of Lowe's closed at $20.10 yesterday.
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