Nomura Securities Maintains a 'Neutral' on Lowe's (LOW); Investor Conference Preview

Nomura Securities maintains a 'Neutral' on Lowe's (NYSE: LOW) price target of $22.00.

Nomura analyst, Aram Rubinson, said, "LOW shares have received a surprising amount of interest ahead of its Dec 5th-6th investor conference. That marks a stark difference from only one month ago when the Street seemed to be ignoring the stock. The recent outperformance likely has more to do with investor presentations and financial leverage than it has to do with customers. We note that LOW’s GP-SSS has continued to decline—by -2.0% over the past three quarters, while HD has seen +3.0%. Expecting traction too soon may be a bit unfair. Instinctively, we are also less drawn to ‘reversion to the mean’ stories like Lowe’s."

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 $24.31 yesterday.

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