Lowe’s price target lowered to $293 from $295 at Truist

Truist lowered the firm’s price target on Lowe’s (LOW) to $293 from $295 and keeps a Buy rating on the shares. The company posted a solid Q4, including a comp gain of 1.3%, and their 2- and 3-yr stacks accelerated to multi-year highs, despite the lack of storm activity through most of the quarter, the analyst tells investors in a research note. If the economy holds up, the easing housing affordability issues, the aging US housing infrastructure, and the potential stream of “housing stimulus” ideas from the Trump Administration should continue to drive shares higher, the firm added.