Lowe’s price target raised to $260 from $250 at Wells Fargo

Wells Fargo raised the firm’s price target on Lowe’s to $260 from $250 and keeps an Overweight rating on the shares. While Street estimates are coming down and Q1 off to a seemingly slow start, gradual improvement from here is plausible and these setups are working in today’s “own the recovery” tape, Wells says. The firm sees a low Q1 bar, reasonable price to earnings and potential second half of the year recovery.