Goldman Sachs Maintains Neutral on Lowe's Companies

Goldman Sachs is out with its report today on Lowe's Companies LOW, maintaining Neutral. In its report, Goldman Sachs writes, "We expect a guarded reaction to this print. The stock has obviously been under pressure, in anticipation of some shortfall or guide-down. The magnitude of the changes to sales and guidance is modest, but the 2Q gross margin shortfall is likely to spur concerns about underlying profitability, with some likely impact to HD's HD share price as well; HD reports on August 16 — we see better visibility there." At the time of posting, shares of LOW were trading pre-market at $19.21, down 1.54% from Friday's close.