Stifel raised the firm’s price target on Lowe’s to $250 from $230 and keeps a Hold rating on the shares. after adjusting estimates for fiscal Q3 results, updated guidance, 10Q filings, and the FBM acquisition. The firm believes Q3 results and commentary illustrated a weaker underlying category not fully captured by expectations, but with “a clear bifurcation in the two reports” from the leaders as Home Depot (HD) weakness eclipsed the firm’s expectations while Lowe’s (LOW) results and commentary showcased resilience, the analyst tells investors.
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