Baird raised the firm’s price target on Lowe’s to $250 from $225 and keeps an Outperform rating on the shares after its Q2 results. The company’s earnings beat was driven by better-than-expected comps and firmer gross margin, the analyst tells investors in a research note. While its DIY/discretionary sales were softer, Lowe’s strength in Pro and e-commerce support the company’s share gains despite the weaker demand environment, the firm adds.
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