), commenting on LOW's Q2 results. In its report, J.P. Morgan writes, "Initially we think the market will look at today's results with some relief that LOW is able to cut costs to make numbers. However, while this may provide a reason to cover a negative view, it is not per se a compelling reason to be long the stock. Using guidance, 6x EV/EBITDA (and ~13x PE) on 2011E numbers is ~$20, 5.5x is $18. The market won't fully judge LOW's results until we see HD (NYSE: