In a report released today, Simeon Gutman from Morgan Stanley maintained a Buy rating on Lowe’s, with a price target of $270.00.
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Simeon Gutman has given his Buy rating due to a combination of factors that position Lowe’s favorably in the market. One significant aspect is Lowe’s strategic deployment of AI technology, which is enhancing productivity and efficiency across the organization. By utilizing AI, Lowe’s is improving in-store operations, boosting employee productivity, and leveraging data to better serve customers, all of which are expected to positively impact sales and margins.
Another factor influencing the Buy rating is Lowe’s approach to the housing cycle and building products distribution strategy. Despite uncertainties in the housing market, Lowe’s is strategically positioned to benefit from a gradual recovery. The company’s focus on the wholesale building products distribution segment, through acquisitions like Artisan Design Group and Foundation Building Materials, aligns with the anticipated demand for new homes and the large Pro market. This strategic direction, coupled with a disciplined financial approach, supports the positive outlook for Lowe’s stock.
In another report released on September 25, Oppenheimer also maintained a Buy rating on the stock with a $320.00 price target.