Nomura Securities Maintains a 'Buy' on Lowe's (LOW); Review of Q1
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Price: $218.47 +0.11%
Rating Summary:
26 Buy, 21 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
26 Buy, 21 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Buy' on Lowe's (NYSE: LOW) price target lowered from $40 to $37.
Analyst, Aram Rubinson, said, "The market greeted LOW’s Q1 results with disapproval. The most notable shortcoming was news of a delay in implementing line review changes to a goal of 90 days (post-plan) to 120 days. The shift will better accommodate the workload. It will also delay markdowns associated with an estimated $200m of inventory. We took comfort that LOW bought $1.7bn of stock in Q1, which suggests the company was buying up to 13% of the daily volume from early March to mid April. We also note that the comp gap to HD continued to be almost entirely due to Ticket. Our 2012E/2013E EPS goes from $1.97/$2.60 to $1.94/$2.58.
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 $25.60 yesterday.
Analyst, Aram Rubinson, said, "The market greeted LOW’s Q1 results with disapproval. The most notable shortcoming was news of a delay in implementing line review changes to a goal of 90 days (post-plan) to 120 days. The shift will better accommodate the workload. It will also delay markdowns associated with an estimated $200m of inventory. We took comfort that LOW bought $1.7bn of stock in Q1, which suggests the company was buying up to 13% of the daily volume from early March to mid April. We also note that the comp gap to HD continued to be almost entirely due to Ticket. Our 2012E/2013E EPS goes from $1.97/$2.60 to $1.94/$2.58.
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 $25.60 yesterday.
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