These Analysts Revise Their Forecasts On Lowe's After Q2 Results

Lowe's Companies Inc LOW reported better-than-expected second-quarter earnings and reaffirmed FY23 outlook.

Lowe's reported a second-quarter FY23 sales decline of 9.17% year-on-year to $24.96 billion, marginally missing the analyst consensus of $24.99 billion. EPS of $4.56 beat the analyst consensus estimate of $4.49.

Lowe's reaffirmed its FY23 revenue outlook of $87 billion - $89 billion, against the Street view of $88.08 billion. It sees FY23 adjusted EPS of $13.20 - $13.60 against the consensus of $13.37.

Lowe's shares rose 0.1% to trade at $225.93 on Wednesday.

These analysts made changes to their price targets on Lowe's following earnings announcement.

• Telsey Advisory Group boosted the price target on Lowe's from $225 to $230. Telsey Advisory Group analyst Joseph Feldman maintained a Market Perform rating.
• Goldman Sachs lowered the price target on Lowe's from $260 to $252. Goldman Sachs analyst Kate McShane maintained a Buy rating.
• Baird raised the price target on Lowe's from $225 to $250. Baird analyst Peter Benedict maintained an Outperform rating.
• Wells Fargo increased the price target on Lowe's from $245 to $250. Wells Fargo analyst Zachary Fadem maintained an Overweight rating.
• UBS raised the price target on Lowe's from $250 to $265. UBS analyst Michael Lasser maintained a Buy rating.