Lowe’s price target lowered to $235 from $282 at Bernstein

Bernstein lowered the firm’s price target on Lowe’s to $235 from $282 and keeps an Outperform rating on the shares. The firm notes Lowe’s Q3 results featured a miss on top line, a beat on gross margin, and EPS inline with consensus, along with a topline and EPS guide-down for Q4 and FY2023. But it’s the dichotomy of Pro vs. DIY growth that has Bernstein taking away mixed signals, it says.