Telsey Advisory lowered the firm’s price target on Lowe’s to $215 from $225 and keeps a Market Perform rating on the shares. The company reported mixed Q3 results along with lower-than-anticipated Q4 guidance, which reflects a tough macro environment as well as softness in sales of DIY categories, the analyst tells investors. While the firm is encouraged by the early success of several initiatives in Q3, Telsey will remain on the sidelines until improvement in housing market trends and a return of consumer spending on home improvement projects.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on LOW:
- Lowe’s price target lowered to $225 from $235 at Truist
- Lowe’s price target lowered to $236 from $257 at DA Davidson
- Lowe’s price target lowered to $215 from $230 at Wedbush
- Lowe’s price target lowered to $230 from $255 at Morgan Stanley
- Lowe’s price target lowered to $218 from $240 at Piper Sandler