Lowe's (LOW) PT Raised to $290 at TD Cowen

TD Cowen analyst Max Rakhlenko raised the price target on Lowe's (NYSE: LOW) to $290.00 (from $270.00) while maintaining a Hold rating.

The analyst commented: "We think LOW is well positioned into the next Home Improvement cycle, and expect solid Pro share growth with its key small to medium Pros, both in the store, and eventually distribution to further grow share. Growing Pro share should help LOW improve top-line productivity which we think will be key to closing its valuation discount to HD. We have a positive bias, but look for a better entry point."

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