Lowe’s price target lowered to $263 from $300 at JPMorgan

JPMorgan lowered the firm’s price target on Lowe’s (LOW) to $263 from $300 and keeps an Overweight rating on the shares. Lowe’s has faced a larger do-it-yourself weather headwind earlier in the quarter and has lagged Home Deport (HD) more recently even as weather improved, the analyst tells investors in a research note. JPMorgan lowered its Q1 comp and earnings estimates below the Street. It believes Lowe’s “could shade” the full year guidance to the low end of flattish comps and 12.3% operating margin, but reiterate its confidence in navigating tariffs and protecting margins in a downside scenario.