Lowe’s price target raised to $235 from $215 at Wells Fargo

Wells Fargo analyst Zachary Fadem raised the firm’s price target on Lowe’s to $235 from $215 and keeps an Overweight rating on the shares. The firm leans optimistic into 2024. Lower rates justify a risk-on pivot, but it’s a delicate balance with first half of the year Street estimates too high and Hardlines up 17% since November 1.