Piper Jaffray Maintaining Neutral On Lowe's (LOW)

Piper Jaffray is maintaining its Neutral rating and $28 price target on shares of Lowe's LOW. In a note to clients, Piper Jaffray writes, "We are maintaining our Neutral rating and $28 PT on LOW following travels with management over the past couple of days. Attending the meetings from LOW were Bob Gfeller, EVP, Merchandising and Tiffany Mason, VP, Investor Relations. While we believe the company is making good progress on technology investments, focused store growth and private brand penetration, we believe shares are fairly valued at this point based on difficult housing trends and a slowly improving unemployment rate." Shares of LOW gained 4 cents yesterday to close at $26.97.