Truist lowered the firm’s price target on Lowe’s to $225 from $235 but keeps a Buy rating on the shares. The company’s Q3 sales were “moderately disappointing”, as gains in the Pro segment were more than offset by weakness in DIY, the analyst tells investors in a research note. Even with soft top-line trends, Lowe’s was able to hold margins as gross margin expansion offset SG&A deleverage, the firm states. Truist further adds that the stock’s valuation “seems attractive” at about 15-times current year estimates.
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