Lowe’s price target raised to $249 from $229 at Truist

Truist raised the firm’s price target on Lowe’s to $249 from $229 and keeps a Buy rating on the shares as part of a broader research note on Home Improvement names. The recent housing data continues to highlight further declines in inventory, which is helping to support elevated home prices, the analyst tells investors in a research note. With these dynamics driving incremental home investment activity and continuing to improve, investors may become incrementally more bullish on the home improvement sector, the firm added.