Canaccord Genuity analyst Brian McNamara has maintained their bullish stance on LOW stock, giving a Buy rating on June 23.
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Brian McNamara has given his Buy rating due to a combination of factors that suggest Lowe’s is well-positioned for future growth. Despite challenging weather conditions that affected garden sales, Lowe’s managed to maintain a performance that was in line with or slightly better than the previous year. This resilience indicates strong brand strength and effective management strategies in navigating external challenges.
Furthermore, the survey conducted by McNamara highlighted that a significant portion of Lowe’s locations reported stable or improved sales compared to the previous year. This stability, coupled with the potential for improved weather conditions, suggests that Lowe’s is likely to see continued demand and growth in its garden segment. These factors collectively support McNamara’s optimistic outlook and Buy rating for Lowe’s stock.
In another report released on June 23, Wells Fargo also maintained a Buy rating on the stock with a $260.00 price target.
Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LOW in relation to earlier this year.