Lowe's Downgraded To Hold From Buy At Loop Capital

Loop Capital analyst Laura Champine downgraded Lowe's to Hold and lowered her price target for the shares to $99 from $125. The retailer closed yesterday down 3% to $91.56.

The analyst thinks she was previously too optimistic on Lowe's likely margin progression. She still expects the company's fiscal 2019 same-store-sales to rise 3%, but she believes Lowe's will need to be more promotional to achieve this. Further, the analyst expects industry demand to moderate this year.

Management's initiatives to drive sales will have a long-term payoff, "but we are not seeing significant progress in stores yet," Champine tells investors in a research note. As such, the analyst believe shares of Lowe's are reasonably priced at current levels. 


Disclaimer: TheFly's news is intended for informational purposes only and does not claim to be actionable for investment decisions. Read more at  more

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.


Leave a comment to automatically be entered into our contest to win a free Echo Show.