Lowe’s price target raised to $283 from $264 at Truist

Truist raised the firm’s price target on Lowe’s (LOW) to $283 from $264 and keeps a Buy rating on the shares. Q2 results were “solid” and the solid Q2 margins and strong exit rate enabled the company to reiterate its full year guidance, the analyst noted. In addition, the planned acquisition of Foundation Building Materials should help add even more upside leverage to Lowe’s model as the industry improves, argues the firm, which would remain buyers of the shares.