Lowe’s price target lowered to $280 from $289 at BofA

BofA lowered the firm’s price target on Lowe’s to $280 from $289 and keeps a Buy rating on the shares. The firm lowered its FY25 EPS estimate to $12.20 from $13.72, primarily driven by a reduction to its comp forecast to (2.4%) from flat previously. While the firm expects do-it-yourself demand to remain under pressure in 2024, it expects comps to improve through the year and inflect positively in Q4 driven by easing comparisons, the analyst tells investors.