Morgan Stanley Remains Bullish on Lowe's Cos. (LOW) Following 2Q
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Morgan Stanley reiterated an Overweight rating and $87.00 price target on Lowe's (NYSE: LOW) following the company's 2Q earnings report.
Analyst Simeon Gutman commented, "Q2 was a setback for the LOW story, but we remain OW as we see a stock in a good segment with a realistic path higher. This path higher does not hinge on significant EPS upside, nor does it require LOW to narrow the comp gap with HD. It is based on LOW achieving the 3-year targets it set out in 2014 and benefiting from modest RONA accretion next year."
Shares of Lowe's closed at $76.88 yesterday.
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