Stifel analyst W. Andrew Carter reiterated a Hold rating and $265.00 price target on Lowe's (NYSE: LOW).

The analyst commented, "Following LOW F3Q24 earnings, we continue with our Hold rating for LOW shares taking a mixed view of overall results/commentary. Sales exceeded our expectations, though we believe the performance aided by the extended season and hurricane benefits fall short of showcasing a meaningful inflection with our cautious FY25 comparable sales outlook remaining intact. Importantly, we believe FY24 guidance including $300 million higher revenue but $46 million lower EBIT attracts scrutiny for LOW ability to meet accelerated demand even as LOW noted unique expenses as well as lower margin hurricane sales ($200 million) against an otherwise unchanged cost outlook."

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Shares of Lowe's closed at $271.77 yesterday.