Morgan Stanley Remains Bullish Following Investor Meetings with Lowe's (LOW) Management

Morgan Stanley maintains an Overweight rating and $84.00 price target on Lowe's (NYSE: LOW) following investor meetings. Analyst Simeon Gutman says that the company is in a favorable spot in a growing home improvement market.

Gutman commented, "We hosted meetings with LOW management including CFO Robert Hull, Chief Merchandising Officer Mike McDermott, and VP Finance & Treasurer
Tiffany Mason. Our key takeaway is that the LOW flow through and earnings
acceleration story is on track. The company is in a favorable spot in a growing home improvement market. It is now past the bulk of internal changes and is running its own playbook of driving productivity and operating profit. The net result should be a consistently greater amount of operating leverage and an EBIT margin that eventually could exceed the prior 11.0% peak."

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 $68.61 yesterday.

You May Also Be Interested In

• Growth isn't weak enough to truly undercut inflation pressures - BMO
• Morgan Stanley (MS) PT Raised to $102 at HSBC
• Wells Fargo on Super Micro Computer (SMCI): 'No Positive Preannouncement