Lowe’s price target raised to $262 from $230 at Piper Sandler

Piper Sandler raised the firm’s price target on Lowe’s (LOW) to $262 from $230 and keeps an Overweight rating on the shares following “solid” Q2 results with both sales and gross margin. The company’s Q2 comp was “better than expected” and the company out-comped Home Depot (HD) for the second quarter in a row, the analyst tells investors. The housing and remodel backdrop remains challenging, but the firm remains “impressed” with the company’s strong execution in both sales and margins.