May. 14 at 11:16 AM
$LOW Lowe's price target lowered to
$281 from
$303 at Bernstein
Bernstein lowered the firm's price target on Lowe's to
$281 from
$303 and keeps an Outperform rating on the shares. Going into Q1 home improvement earnings, expectations remain subdued for both Home Depot (HD) and Lowe's (LOW), the firm says. Bernstein expects higher comparable sales from Home Depot as the SRS acquisition gives it exposure to benefit from snowstorm-related repair/maintenance activities. For the full year, the firm doesn't expect Home Depot and Lowe's to update guidance just yet, as both contemplated a wide range of scenarios.
