Jefferies Reiterates Buy Rating on Lowe's (LOW)
Jefferies analyst Jonathan Matuszewski reiterated a Buy rating and $267.00 price target on Lowe's (NYSE: LOW)
The analyst comments "Shares are up in the pre-market. The 4.1% comp decline comes in ~140 bps above the Street, even with unseasonable weather and ongoing big ticket DIY pressure. We expect Pro to be a focal point on the call, as it was up y/y for Lowe's and down y/y for their largest competitor. Also expect attention on SG&A, as it was a notable driver of EPS outperformance vs. the Street. Annual guidance reiterated, consistent with expectations. Call at 9 AM."
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Shares of Lowe's closed at $229.17 yesterday.