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.
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