LOW Stock: $210 Target From Wedbush

LOW Stock: $210 Target From Wedbush
  • The shares of Lowe’s Companies Inc (NYSE: LOW) have received a price target drop from $225 to $210 by Wedbush. These are the details.

The shares of Lowe’s Companies Inc (NYSE: LOW) have received a price target drop from $225 to $210 by Wedbush. And Wedbush analyst Seth Basham downgraded Lowe’s shares from an “Outperform” rating to “Neutral.”


In a research note, Basham wrote that the outlook on home improvement retail is shifting from positive to neutral. And the existing home sales dollar turnover peaked with a minimal growth forecast for next year. Plus lower affordability and limited supply are also putting the squeeze on sales.


“Accordingly, very tough comparisons could result in mid-single-digit decline average comps for Home Depot and Lowe’s for the next four quarters (vs. consensus for low-single-digit decline), and very low single-digit comps from 2Q-4Q22 (vs. consensus mid-single-digit increase) in our base case scenario analysis,” wrote Basham in the research note via MarketWatch.


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