UBS Lowers Estimates and PT on Lowe's (LOW) Messy Q1, But Bullish Case Remains
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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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UBS maintains a 'Buy' on Lowe's (NYSE: LOW) price target lowered from $37 to $34.
Analyst, Michael Lasser, said, "From our viewpoint, not much has changed with Lowe’s investment story. The bull case remains that the company has substantial leverage to the upside as the home improvement cycle unfolds. It’s true that its restructuring activities have proven to be messier than expected. But
making changes of these sorts should help the company overcome its structural deficiency of having stores that are not as conveniently located as Home Depot's (NYSE: HD). Once Lowe’s has the initiatives behind it, we expect to see much cleaner results, which should propel the stock higher."
Lasser lowers FY13 EPS estimate from $1.90 to $1.86 and FY14 from $2.35 to $2.23.
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, Michael Lasser, said, "From our viewpoint, not much has changed with Lowe’s investment story. The bull case remains that the company has substantial leverage to the upside as the home improvement cycle unfolds. It’s true that its restructuring activities have proven to be messier than expected. But
making changes of these sorts should help the company overcome its structural deficiency of having stores that are not as conveniently located as Home Depot's (NYSE: HD). Once Lowe’s has the initiatives behind it, we expect to see much cleaner results, which should propel the stock higher."
Lasser lowers FY13 EPS estimate from $1.90 to $1.86 and FY14 from $2.35 to $2.23.
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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