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Wells Fargo Sticks to Its Buy Rating for Lowe’s (LOW)

Wells Fargo analyst Zachary Fadem maintained a Buy rating on Lowe’s (LOWResearch Report) today and set a price target of $240.00. The company’s shares closed last Tuesday at $195.65.

According to TipRanks.com, Fadem is a 5-star analyst with an average return of 17.4% and a 63.6% success rate. Fadem covers the Consumer Goods sector, focusing on stocks such as Petco Health and Wellness Company, National Vision Holdings, and Floor & Decor Holdings.

Lowe’s has an analyst consensus of Strong Buy, with a price target consensus of $236.67.

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Based on Lowe’s’ latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $23.66 billion and net profit of $2.33 billion. In comparison, last year the company earned revenue of $24.42 billion and had a net profit of $2.32 billion.

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Founded in 1946, Lowe’s Companies, Inc. operates as a home improvement retailer in the United States, Canada and Mexico. It offers home improvement products in various categories including appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows, and doors. The company is headquartered in Mooresville, North Carolina.

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