Lowe’s price target lowered to $203 from $207 at Barclays

Barclays lowered the firm’s price target on Lowe’s to $203 from $207 and keeps an Equal Weight rating on the shares. The firm says the company’s Q3 was weaker which was largely anticipated, but the magnitude and underperformance in do-it-yourself seems worse. Lowe’s lowered guidance, which seems appropriate and more achievable now, but may have negative implications for fiscal 2024, the analyst tells investors in a research note.