Lowe’s price target raised to $225 from $220 at Loop Capital

Loop Capital analyst Laura Champine raised the firm’s price target on Lowe’s to $225 from $220 but keeps a Hold rating on the shares. The firm is adjusting its model on the company with higher assumed long-term margin estimates, though it is also reducing its FY24 EPS view by 5c to $12.25 and its FY25 view by 8c to $13.82, the analyst tells investors in a research note. Lowe’s is bearing the brunt of the spending shift away from goods and to services, as 75% of the company’s revenues are from the DIY customer, though it is also investing in fulfillment and has recently added credit for pros, the firm added.