Lowe’s price target raised to $294 from $269 at Piper Sandler

Piper Sandler analyst Peter Keith raised the firm’s price target on Lowe’s (LOW) to $294 from $269 and keeps an Overweight rating on the shares. Lowe’s reported a relatively in-line Q2 and guidance was largely reiterated, the analyst tells investors in a research note. The firm is seeing some green shoots similar to Home Depot (HD) with late quarter comp strength, and Piper is bullish on the second half for Lowe’s amid its “transformational” acquisition of Foundation Building Materials (FBM).