Bank of America Securities analyst Robert Ohmes reiterated a Buy rating on Lowe’s (LOW – Research Report) yesterday and set a price target of $290.00.
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Robert Ohmes has given his Buy rating due to a combination of factors that highlight Lowe’s strategic positioning and growth potential. The acquisition of Artisan Design Group (ADG) is a significant move that extends Lowe’s reach into the professional market and new home construction space, potentially tapping into a $50 billion incremental total addressable market. This acquisition, along with Lowe’s ongoing initiatives to enhance its Pro offerings and diversify its sourcing, positions the company well for future growth.
Despite challenges such as unfavorable weather and pressures on DIY discretionary spending, Lowe’s has demonstrated resilience with positive sales growth in the professional and online segments. The company’s efforts in improving gross margins and managing costs through its portfolio pricing approach further strengthen its financial outlook. These strategic moves, combined with the potential for inorganic growth and the execution of Lowe’s Total Home strategy, support the Buy rating with a price objective of $290.
In another report released today, KeyBanc also reiterated a Buy rating on the stock with a $266.00 price target.
LOW’s price has also changed moderately for the past six months – from $265.220 to $227.370, which is a -14.27% drop .
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