Stifel Reiterates Hold Rating on Lowe's (LOW)

Stifel analyst W. Andrew Carter reiterated a Hold rating and $265.00 price target on Lowe's (NYSE: LOW).

The analyst commented, "Following LOW F3Q24 earnings, we continue with our Hold rating for LOW shares taking a mixed view of overall results/commentary. Sales exceeded our expectations, though we believe the performance aided by the extended season and hurricane benefits fall short of showcasing a meaningful inflection with our cautious FY25 comparable sales outlook remaining intact. Importantly, we believe FY24 guidance including $300 million higher revenue but $46 million lower EBIT attracts scrutiny for LOW ability to meet accelerated demand even as LOW noted unique expenses as well as lower margin hurricane sales ($200 million) against an otherwise unchanged cost outlook."

For an analyst ratings summary and ratings history on Lowe's click here. For more ratings news on Lowe's click here.

Shares of Lowe's closed at $271.77 yesterday.

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