Lowe’s price target raised to $250 from $215 at Wedbush

Wedbush raised the firm’s price target on Lowe’s to $250 from $215 and keeps a Neutral rating on the shares. The firm notes Lowe’s reported Q4 results that beat expectations on the top- and bottom-lines but issued Q1 and full year 2024 guidance below consensus forecasts. Wedbush remains modestly concerned with Lowe’s relative DIY performance, but believes it is primarily due to higher exposure to bigger ticket DIY categories, such as appliances and home decor.