BTIG affirms Lowe's Cos. (NYSE: LOW) at Buy with a price target of $80 following Q3 results and lowered outlook issued earlier Wednesday.

Thefirm commented today: 3Q16: Operating EPS of $0.88 below our in-line estimate of $0.96. Comps of 2.7% were slightly better than our 2.5% estimate. Company lowers full year comp guidance from 4% to 3-4%, and sales guidance from 10% to 9-10%. Lowers 2016 Non-GAAP operating EPS guidance to $3.91 from $4.01. Recall we lowered our comp and EPS estimates for 2016-2018 as well as our PT on November 9. Our estimates are under review.

We expect shares to be weak given that LOW’s missed our recently lowered estimates, BTIG noted.

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Analyst Comments Analyst EPS View

UBS Cuts Price Target on Lowe's Cos. (LOW) Following 3Q Report November 17, 2016 9:30 AM Jefferies Cuts Price Target on Lowe's Cos. (LOW) to $69 Following 3Q November 17, 2016 8:42 AM Moody's Affirms Ratings on Lowe's Cos. (LOW); Outlook is StableNovember 16, 2016 4:29 PM Form 8-K LOWES COMPANIES INC For: Nov 16November 16, 2016 8:22 AM Dow, S&P 500 drop as U.S. bank rally wanes, tech boosts NasdaqNovember 16, 2016 7:20 AM Lowe's Cos. (LOW) Misses Q3 EPS by 8c; Trims FY17 OutlookNovember 16, 2016 6:10 AM Lowe's Reports Third Quarter Sales and Earnings ResultsNovember 16, 2016 6:00 AM