Analyst Max Rakhlenko from TD Cowen maintained a Hold rating on Lowe’s and decreased the price target to $250.00 from $275.00.
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Max Rakhlenko’s rating is based on a combination of factors that reflect Lowe’s current market position and future potential. The company’s third-quarter results exceeded expectations, demonstrating resilience in a challenging economic environment. Lowe’s ability to outperform in the professional segment and maintain steady growth in the DIY sector, despite various headwinds, is noteworthy. However, the guidance for the fourth quarter has been adjusted to reflect a more conservative outlook, which aligns with the current economic backdrop and sets a more attainable target.
Additionally, Lowe’s recent mergers and acquisitions are expected to yield early benefits, particularly in enhancing its product offerings and cross-selling opportunities within its professional segment. The company’s strategic initiatives and positive survey results suggest that its professional business is well-positioned to navigate the current economic challenges. Despite these positive indicators, the overall cautious market conditions and the need to observe how Lowe’s adapts to easing headwinds and potential discretionary spending increases justify the Hold rating.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $243.00 price target.