Lowe's (LOW) PT Lowered to $207 at BNP Paribas Exane

BNP Paribas Exane analyst Chris Bottiglieri lowered the price target on Lowe's (NYSE: LOW) to $207.00 (from $217.00) while maintaining a Underperform rating.

The analyst commented, "The divergence between HD and LOW US SSS is growing. Lowe's is trying everything it can from an adjacent market offering including launching a 3P marketplace, rewards program, rural initiative, pet initiative, and more recently expanding further into complex pro with an acquisition. However, bottom-line, LOW has more exposure to slower growing DIY (than HD), and HD is in the harvesting phase of an investment cycle into Pro whereas LOW has been focused on cost efficiency so we expect the gap to widen. Further, with rates continuing to surge, the housing market continuing freeze, and the imposition of tariffs, we see no reason to be optimistic on macro helping either retailer."

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