Citi Maintains Hold on Lowe's

Citi is out with its report today on Lowe's LOW, maintaining Hold. In its report, Citi writes, "We rate the shares of LOW Hold/Medium Risk (2M). Our long-term outlook for the home improvement industry is favorable given secular trends, including the aging of the U.S. housing stock. However, same-store sales trends will likely remain challenging, as housing demand remains weak, home price recovery is slow, and consumers are postponing discretionary projects, higher-ticket repairs, and remodels." Citi maintains a $21 PT on LOW. At the time of posting, shares of LOW were trading at $20.14, up 0.55% from Tuesday's close.