Argus analyst Chris Graja raised the firm’s price target on Lowe’s to $260 from $250 and keeps a Buy rating on the shares. The company’s CEO Marvin Ellison is demonstrating the experience and ability to improve operations and raise profitability as it has elevated its business analytics, upgraded its website, and sold the Canadian business to drive better margin performance and higher capital efficiency, the analyst tells investors in a research note. The firm further cites Ellison indicating that the three factors strongly correlated to demand for home improvement products – home price appreciation, the age of homes, and personal disposable income – remain favorable.
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