Lowe’s price target lowered to $269 from $296 at Piper Sandler

Piper Sandler analyst Peter Keith lowered the firm’s price target on Lowe’s (LOW) to $269 from $296 to factor in near-term pressure from big ticket weakness and tariffs, while keeping an Overweight rating on the shares. The firm notes that the backdrop for large-ticket remodel projects continues to point to stability in 2025 following two highly challenged years. However, upper income consumer sentiment has fallen significantly in February and March, which appears to be pressuring big ticket spending for homeowners. All in, Piper sees potential for comparable sales weakness in the first half of the year for home improvement retailers.