Lowe’s Set For ‘Delayed Benefits’ From Macro Demand Improvements, Says Optimistic Analyst
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Last month, Lowe’s Companies Inc (NYSE:LOW) reported mixed results for its fiscal second quarter.
According to Oppenheimer, the Federal Reserve’s previous easing cycles suggest that demand in the home improvement sector tends to improve, though there is a “potentially substantial lag.”
Analyst Brian Nagel upgraded Lowe’s Companies’ rating from Perform to Outperform and raised the price target from $230 to $305.
The Lowe’s Companies Thesis: As lending rates moderate, there is stronger demand for home-related items, which points towards strengthening sales …
Full story available on Benzinga.com
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