Lowe's To $255? These Analysts Boost Price Targets On The Retailer Following Upbeat Q3 Results

Lowe's Companies, Inc. WMT reported better-than-expected Q3 results and raised its FY22 EPS guidance.

Lowe's reported third-quarter FY22 sales growth of 2.5% year-on-year to $23.48 billion, beating the consensus of $23.13 billion. Adjusted EPS of $3.27 beat the analyst consensus of $3.10.

Lowe's shares jumped 3% to close at $215.13 on Wednesday.

These analysts made changes to their price targets on Lowe's following the release of quarterly results.

• Telsey Advisory Group increased the price target on the stock from $250 to $255. Telsey Advisory Group analyst Joseph Feldman maintained an Outperform rating on the stock.
• Goldman Sachs boosted Lowe's price target from $226 to $241. Goldman Sachs analyst Kate McShane maintained a Buy rating on the stock.
• Piper Sandler raised the price target on Lowe's from $248 to $253. Piper Sandler analyst Peter Keith maintained an Overweight rating on the stock.