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. The company’s Q2 results were solid as sales and comps were in-line with expectations with slightly higher than expected margins, the analyst tells investors in a research note. Lowe’s also accelerated its move into building product distribution assets with the planned acquisition of Foundation Building Materials, which should help add even more upside leverage to the company’s model as the industry improves, the firm added.