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Barclays Cuts Estimates on Lowe's (LOW); Gross Margins Under Pressure; Performance Lags HD

May 22, 2012 2:02 PM EDT
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Price: $253.33 +0.76%

Rating Summary:
    20 Buy, 25 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 6 | Down: 3 | New: 1
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Barclays maintains an 'Equalweight' on Lowe's (NYSE: LOW) price target of $30.00.

Analyst, Alan M. Rifkin, said, "Continuing 1Q EPS of $0.44, $0.01 ahead of our estimate...1Q same-store sales registered 2.6% versus (3.3)% last year, below our 4% estimate...We also note that due to the extra week in 2011, there was a calendar shift in 1Q that resulted in an additional week of spring and one fewer week of winter, which benefited sales by $514 million or 4.2% and EPS by $0.05."

"We are lowering our 2012 EPS estimate from $1.92 to $1.88, our 2013 EPS estimate from $2.25 to $2.20 and our 2014 EPS estimate from $2.60 to $2.55."

Other stock of note: Home Depot (NYSE: HD)

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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