Lowe’s price target raised to $245 from $235 at Evercore ISI

Evercore ISI raised the firm’s price target on Lowe’s (LOW) to $245 from $235 and keeps an In Line rating on the shares. Lowe’s is “doing a commendable job managing through 16 consecutive quarters of negative traffic” and the “meet and maintain” Q1 report should be enough to hold up the shares, yet the market could be missing the risk to keep leveraging SG&A as long as comps are running near flat, the analyst tells investors. The firm, which adds that it thinks the midpoint of guidance of $12.28 “remains punchy,” sets its own FY25 EPS forecast at $12.20.