Wells Fargo Thinks Lowe’s’ Stock is Going to Recover

Wells Fargo analyst Zachary Fadem maintained a Buy rating on Lowe’s (LOWResearch Report) today and set a price target of $260.00. The company’s shares closed last Tuesday at $194.03, close to its 52-week low of $182.08.

According to, Fadem is a 5-star analyst with an average return of 17.2% and a 64.0% 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.

Currently, the analyst consensus on Lowe’s is a Strong Buy with an average price target of $248.46, representing a 24.9% upside. In a report issued on May 6, Gordon Haskett Capital Corporation also maintained a Buy rating on the stock with a $225.00 price target.

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Based on Lowe’s’ latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $21.34 billion and net profit of $1.21 billion. In comparison, last year the company earned revenue of $20.31 billion and had a net profit of $978 million.

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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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