Lowe’s price target raised to $301 from $274 at Jefferies

Jefferies raised the firm’s price target on Lowe’s (LOW) to $301 from $274 and keeps a Buy rating on the shares. Despite a high-single digit percentage comp and sequential DIY improvement, results fell short of investor expectations with shares trading down 3%-4% as a raised top-line outlook was partially offset by slightly trimmed profitability, the analyst tells investors in a research note. The firm added, however, that it was reiterating its Buy rating with long-term industry drivers intact, noting that all eyes are on the December Analyst Day for an updated medium-term guidance framework.