Lowe’s (LOW) shares are down 21% from their record highs hit in December 2021 but the stock isn’t as reliant on the housing market as it might seem, Jacob Sonenshine writes in this week’s edition of Barron’s. These days, the business is being driven by company-specific factors, such as its continued growth in the higher-margin and more-stable contractor business, where it’s narrowing the gap with Home Depot (HD), the author notes. The stock, meanwhile, trades at a discount to both its larger rival and the S&P 500 index, offering a compelling entry point for investors willing to bet Lowe’s turnaround can continue, the publication adds. Reference Link
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on HD:
- Privacy chief of Canada: Home Depot shared personal customer data with Meta
- Home Depot downgraded to Sell from Hold at R5 Capital
- Home Depot put volume heavy and directionally bearish
- Cowen consumer/retail analyst to hold analyst/industry conference call
- How Climate Change May Benefit Home Depot Stock (NYSE:HD)