Lowe’s price target lowered to $230 from $275 at Stifel

Stifel lowered the firm’s price target on Lowe’s (LOW) to $230 from $275 and keeps a Hold rating on the shares. While the firm remains confident in Lowe’s ability to capitalize on the advantaged home improvement category’s long-term dynamics and sees it making the right pro investments, the firm believes the near-term set-up is challenging and believe the significant expense of a transformative acquisition to capitalize on planned pro spend “deserves scrutiny,” the analyst tells investors.