#3 - Lowe's (NYSE:LOW)
Lowe’s (NYSE: LOW) followed the Home Depot (NYSE: HD) earnings report and may have benefited from it. HD stock dipped after reporting earnings but lowering guidance. On the other hand, LOW stock jumped after its double beat. Investors largely shrugged off the 1.6% decline in comparable sales from the prior year. And the company increased its guidance for the remainder of the year.
One reason why investors may want to take a close look at LOW stock is that concerns over the Delta variant of Covid-19 may bring home improvement projects back to the front burner. And that would be particularly meaningful to Lowe’s that is making a concerted effort to increase sales to its DIY sector (as opposed to contractors).
Investors will want to pay close attention to what the analyst community has to say about Lowe’s results. At this time one analyst firm (Credit Suisse) has raised its price target to $220 from $208.
About Lowe's Companies
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.
Read More - Current Price
- $247.72
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 16 Buy Ratings, 10 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $280.85 (13.4% Upside)
