12:45 ET - Lowe's upcoming analyst day event should show the home-improvement retail industry and the company itself is better positioned than most to manage through a downturn, UBS's analysts say. The retailer's best case scenario is likely to indicate the industry being down around 5%, but Lowe's is also expected to make a strong case on why its industry is decoupled from housing, analysts say. The company's operating margin potentially going slightly down in this scenario means that current 2023 consensus of $14.17 EPS needs to move down a touch. "Still, we believe the market should gain more confidence in Lowe's forward estimates following this event. This should drive the stock higher," analysts add. Shares fall 1.7% to $203.92. (sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
November 30, 2022 12:45 ET (17:45 GMT)
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