Lowe’s price target raised to $250 from $240 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Lowe’s to $250 from $240 and keeps an Overweight rating on the shares. Following the company’s Q4 report, the firm is lowering its FY24 and FY25 EPS estimates by about 5.5% and 2.5%, respectively, and notes that it is modeling comps to be down 2.5%, at the midpoint of guidance, in FY24.