In Line 3Q Results Expected for Lowe's Compaines

Lowe's Companies LOW is expected to have in line 3Q results according to a research report published today by Piper Jaffray. Piper Jaffray expects 3Q EPS of $0.31 which are slightly above the consensus of $0.30. They estimate a comp of 1.8% which is in line with the consensus and 3Q sales of $11.8B which is the same as the consensus estimate. Piper Jaffray reiterates their Neutral rating and price target of $21. Risks to the target price include "the economy, loss of key executives, weather, and competition," according to Piper Jaffray. LOW closed yesterday at $22.30.