Lowe’s price target raised to $250 from $225 at Stifel

Stifel raised the firm’s price target on Lowe’s to $250 from $225 and keeps a Hold rating on the shares. Ahead of earnings, the firm made “modest changes” to its estimates that put Q1 revenue above consensus, reflecting confidence, though also notes that its estimates reflect peak operating margin pressure constraining EPS upside. Given volatile interest rate sentiment, the firm continues to estimate “a tepid FY24 revenue performance,” but notes an increasingly positive bias with the potential for a stronger performance through FY24 to drive increased confidence with underlying category drivers remaining healthy, the analyst tells investors in a preview note.