Lowe’s price target lowered to $255 from $280 at Truist

Truist analyst Scot Ciccarelli lowered the firm’s price target on Lowe’s (LOW) to $255 from $280 and keeps a Buy rating on the shares. The Q1 results were solid and in line with expectations, with full-year guidance reaffirmed, though Q2 earnings are expected to face pressure from timing-related expenses, the analyst tells investors in a research note. Despite a roughly 20% share decline over the past three months due to macroeconomic and interest rate concerns, sales and margins remain stable, and while a broader industry recovery has not yet emerged, historically low home investment levels suggest the sector may be near a cyclical bottom with potential upside ahead, the firm says.