Loop Capital analyst Laura Champine keeps a Hold rating and $230 price target on Lowe’s (LOW) after its Q1 results. It was “gratifying” to see the company top estimates after “disappointing” sales reported by Home Depot (HD) last week, but investors should not view the upside as an indication that the business is recovering, the analyst tells investors in a research note. Lowe’s exposure to DIY was considered a weakness heading into the quarter, but the pro side has now slowed as well, and Loop is modeling a 2% decline in 2024 comps before a recovery to 3% growth in 2025, the firm added.
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