Lowe’s price target lowered to $240 from $262 at Piper Sandler

Piper Sandler analyst Peter Keith lowered the firm’s price target on Lowe’s to $240 from $262 to reflect higher mortgage rates and lower estimates, while keeping an Overweight rating on the shares. The firm notes Total home equity extractions are showing signs of stability quarter-over-quarter – although still running down significantly year-over-year.