Lowe’s price target raised to $246 from $241 at Goldman Sachs

Goldman Sachs analyst Kate McShane raised the firm’s price target on Lowe’s (LOW) to $246 from $241 and keeps a Buy rating on the shares. The analyst states that she is incrementally more positive about the company after its Analyst Day given that the management believes their weak market scenario is the least likely outcome for 2023. McShane further notes that Lowe’s FY23 guidance contemplates above-consensus operating margin, while its long-term EBIT margin target of 14.5% would put the company much closer to Home Depot’s (HD) levels.