JPMorgan analyst Christopher Horvers raised the firm’s price target on Lowe’s to $272 from $268 and keeps an Overweight rating on the shares as part of a Q2 earnings preview. The firm says the “boiling of the frog consumer backdrop” continues, with the “water heating up” and driving increased promotions across retail as the labor market weakens and consumer balance sheets deteriorate, particularly at the low end.
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