TD Cowen on Lowe's (LOW): 'LOW Positioning Itself for Solid Share Growth'

TD Cowen analyst Max Rakhlenko reiterated a Hold rating and $270.00 price target on Lowe's (NYSE: LOW).

The analyst commented: "LOW delivered a strong 4Q beat, while FY25 guide is solid and could have upside, although a soft start to 1Q isn't helping. Encouraged by another quarter of +HSD Pro growth as LOW gains momentum which should persist into FY25. DIY big ticket discretionary categories remain soft but LOW is positioning itself for solid share growth when the category inflects.

Strong Momentum Into Year-End As We Look For Clues If It Can Persist: We're encouraged comps flipped positive to +0.2% for the first time since 3Q22 led by strong Pro while DIY remains soft.

Guidance Has Puts & Takes But Could Deliver Upside: We think initial flat to +1% comps outlook is achievable and could have upside, esp. if Pro momentum continues, DIY headwind lessens, and the category sees any benefit from macro (LOW's guide embeds +100bps of share growth vs. flat industry), although monitor softening consumer confidence, and slowing leading housing indicators."

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 $247.07 yesterday.

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