Lowe's (LOW) PT Raised to $265 at TD Cowen

TD Cowen analyst Max Rakhlenko raised the price target on Lowe's (NYSE: LOW) to $265.00 (from $240.00) while maintaining a Hold rating.

The analyst commented, "We hosted Kate Pearlman, LOW's VP of IR & Treasurer for group calls. Top takeaways: (1) Consumer remains disengaged from the sector, but declining rates will be a tailwind, although timing is uncertain. Top macro drivers in good shape. (2) Maturation of Pro initiatives + unlocks position LOW for strong Pro share growth. (3) PPI in mid-innings and will help fund initiatives & support margin growth."

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