Noting that "Shares reflect likely Q2 sales slowdown and potential EPS revisions," Jefferies & Co. slashed its price target on Lowe's Companies LOW to $24 from $32 today. Jefferies maintained its Buy rating on the stock.
Lowe's is set to report fiscal 2Q11 earnings on Monday, August 16th.
Jefferies reduced FY11 and FY12 earnings estimates, but said to "look for less bumpy 2nd half growth as a low interest rate environment and healthy housing turnover rates
over the past several months potentially spur sales growth again."
Lowe's is the world's second largest home improvement retailer. Shares lost 0.55% today, to close at $19.81.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Posted In: Analyst ColorNewsPrice TargetGlobalIntraday UpdateMarketsAnalyst RatingsMoversConsumer DiscretionaryHome Improvement RetailJefferies & Co.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in