Goldman Sachs Upgrades Lowe's (LOW) to Buy

Goldman Sachs upgraded Lowe's (NYSE: LOW) from Neutral to Buy with a price target of $28 (up from $26), citing signs of change.

"We believe that management is embracing the need for meaningful upgrades to the business after years of drift, and that tangible evidence is starting to emerge in store presentation, technology, and marketing," the analyst said.

The firm also notes that Lowes has already committed to slower store growth, and allocation of capital back to shareholders.

Goldman admits this call is likely early, saying that underlying EBIT growth trends should improve in the second half.

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 $23.87 yesterday.

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