RBC Capital Raises Lowe’s (LOW) Price Outlook after Strong January Trends

Lowe’s Companies, Inc. (NYSE:LOW) is included among the Goldman Sachs Dividend Stocks: Top 14 Stock Picks.

On February 23, RBC Capital expert Steven Shemesh raised the terms proposal connected Lowe’s Companies, Inc. (NYSE:LOW) to $257 from $252. The expert reiterated a Sector Perform standing connected the shares up of the company’s Q4 results. In his probe note, the expert said transaction information showed trends akin to Q3, with January lasting retired arsenic the strongest period of the quarter.

Earlier, connected February 18, Bernstein besides raised its terms people connected Lowe’s to $313 from $284. The steadfast maintained an Outperform rating. Analysts said expectations for Q4 location betterment net stay modest. Bernstein lowered its comparable income forecast by 40bps to 50bps for the quarter. The steadfast pointed to wintertime storms, which apt slowed Pro projects and homebuilding activity.

On February 13, Reuters reported that Lowe’s plans to chopped astir 600 firm and enactment roles. This represents little than 1% of its full workforce. A institution spokesperson said the determination is meant to nonstop much absorption and resources toward store operations and frontline employees who enactment straight with customers. The spokesperson besides said Lowe’s volition enactment affected employees. This includes fiscal assistance, continued benefits for a constricted period, and assistance with uncovering caller occupation opportunities.

Lowe’s Companies, Inc. (NYSE:LOW) operates arsenic a location betterment retailer. The institution sells products utilized successful construction, maintenance, repairs, remodeling, and location decoration.

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