Lowe’s price target raised to $279 from $266 at Bernstein

Bernstein raised the firm’s price target on Lowe’s (LOW) to $279 from $266 and keeps an Outperform rating on the shares. Lowe’s delivered a slight comp miss, though comps accelerated sequentially over the quarter amid improving weather, the analyst tells investors in a research note. Bernstein is “surprised” by the timing of Lowe’s move into complex Pro, especially as the company still has low-hanging growth opportunities in the simply Pro market and does not have in-house capabilities to serve complex Pro customers.