Barclays Reiterates an 'Equalweight' on Lowe's (LOW); Cutting Estimates Before Quarter End
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Price: $42.67 -0.21%
Rating Summary:
7 Buy, 10 Hold, 1 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
7 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
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Barclays reiterates an 'Equalweight' on Lowe's (NYSE: LOW) price target of $30.00.
Analyst, Alan M. Rifkin, said, "We are lowering our 2Q and full-year 2012 EPS estimates each by $0.03, to $0.74 and $1.85, respectively. In our view, weather-driven pull-forward from 2Q to 1Q is likely to be more pronounced than we previously anticipated."
Rifkin also sees the new EDLP (every day low prices) strategy hitting gross margin growth more than originally expected. Longer-term, he believes the company is on the right track, but prefers 'Overweight' rating Home Depot (NYSE: HD).
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 $26.67 yesterday, with a 52 week range of $18.07-$32.29.
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Analyst, Alan M. Rifkin, said, "We are lowering our 2Q and full-year 2012 EPS estimates each by $0.03, to $0.74 and $1.85, respectively. In our view, weather-driven pull-forward from 2Q to 1Q is likely to be more pronounced than we previously anticipated."
Rifkin also sees the new EDLP (every day low prices) strategy hitting gross margin growth more than originally expected. Longer-term, he believes the company is on the right track, but prefers 'Overweight' rating Home Depot (NYSE: HD).
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 $26.67 yesterday, with a 52 week range of $18.07-$32.29.
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