UBS Raising Numbers on Lowe's (LOW) After Meeting With Management
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Price: $42.58 -0.91%
Rating Summary:
7 Buy, 11 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 19 | Down: 23 | New: 29
Rating Summary:
7 Buy, 11 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 19 | Down: 23 | New: 29
Trade LOW Now!
UBS maintains a 'Buy' on Lowe's (NYSE: LOW) price target raised from $35 to $37.
Analyst, Michael Lasser, said, "Throughout the conversations, Lowe’s provided an upbeat message focused on its strategy to emphasize value and product differentiation. This will improve its competitive positioning and enable it to become a leading, omni-channel retailer. At the same time, we think the demand environment is starting to cooperate, which should provide some wind at its back while it progresses through its plan. As its execution picks up steam, and the backdrop continues to work in its favor, it should meet or exceed its longer-term goals of a 10% operating margin and an 18% ROIC."
"Between positive pre-announcements from Sherwin-Williams (NYSE: SHW) & Tractor Supply (Nasdaq: TSCO), and the Census Bureau sales data, there have been several recent encouraging data points for this sector. While warm weather has probably played a role, we think it’s just as likely that more sustainable factors like the release of pent up demand are driving the cycle. LOW stands to fully benefit from the upturn (we forecast a 4.5% 1Q’12 comp)."
FY13 EPS estimate raised from $1.84 to $1.90 and FY14 from $2.27 to $2.35.
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 $32.08 yesterday, with a 52 week range of $18.07-$32.29.
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Analyst, Michael Lasser, said, "Throughout the conversations, Lowe’s provided an upbeat message focused on its strategy to emphasize value and product differentiation. This will improve its competitive positioning and enable it to become a leading, omni-channel retailer. At the same time, we think the demand environment is starting to cooperate, which should provide some wind at its back while it progresses through its plan. As its execution picks up steam, and the backdrop continues to work in its favor, it should meet or exceed its longer-term goals of a 10% operating margin and an 18% ROIC."
"Between positive pre-announcements from Sherwin-Williams (NYSE: SHW) & Tractor Supply (Nasdaq: TSCO), and the Census Bureau sales data, there have been several recent encouraging data points for this sector. While warm weather has probably played a role, we think it’s just as likely that more sustainable factors like the release of pent up demand are driving the cycle. LOW stands to fully benefit from the upturn (we forecast a 4.5% 1Q’12 comp)."
FY13 EPS estimate raised from $1.84 to $1.90 and FY14 from $2.27 to $2.35.
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 $32.08 yesterday, with a 52 week range of $18.07-$32.29.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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