Lowe’s price target lowered to $200 from $210 at Loop Capital

Loop Capital analyst Laura Champine lowered the firm’s price target on Lowe’s to $200 from $210 and keeps a Hold rating on the shares. The analyst is adjusting her estimates for the Canadian divestment and following the company’s analyst day this week, removing the contribution of the 450 Canadian locations from her model and cutting her comp estimate from flat to down 1%. Champine adds that Lowe’s pros are still "working off" the project backlog stemming from Covid-era pull forward and continued focus on the home. She also believes that 2022 sales would be lower without the extra week in the fiscal year calendar.