Lowe's (LOW) PT Lowered to $115 at KeyBanc

KeyBanc analyst Bradley Thomas lowered the price target on Lowe's (NYSE: LOW) to $115.00 (from $125.00) while maintaining a Overweight rating following the company's 3Q earnings report. Adjusted EPS of $1.04 was ahead of expectations, driven by a lower tax rate and better-than-expected margins.

From a hardlines perspective, Thomas is increasingly concerned about slowing growth for home-related retailing as KeyBanc looks to 2019. Excluding the one-time charges, management expects 2018 adjusted diluted EPS of $5.08-$5.13. The consensus is $5.14. Sales guidance was reduced to 4% from 4.5%.

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