Lowe’s price target raised to $270 from $258 at DA Davidson

DA Davidson raised the firm’s price target on Lowe’s to $270 from $258 and keeps a Buy rating on the shares. The company’s Q4 results were not great but “better than expected”, and its outlook may have been “better than feared”, the analyst tells investors in a research note. While the macro recovery is still not yet at hand, the bottom seems closer than the top and rates are more likely to go down than up in 2024, the firm added.