Lowe’s price target raised to $246 from $190 at RBC Capital

RBC Capital raised the firm’s price target on Lowe’s to $246 from $190 but keeps a Sector Perform rating on the shares after its Q4 earnings beat but below-consensus guidance. Big-ticket item spending weakness continues, though the results are not likely to change investor sentiment, the analyst tells investors in a research note. RBC is also rolling forward its valuation model to FY25 and raising its assumed earnings multiple to 18-times from 14.5-times prior.