BUZZ-Street View: Lowe's to sail through choppy macro waters

Reuters11-20 21:13

** Lowe's Cos forecast a slower-than-expected drop in annual comparable sales on Tuesday, banking on a boost to its current-quarter sales from hurricane-related demand, although big-ticket spending remained strained

** 21 of 38 brokerages rate the stock "buy" or higher, 15 "hold" and two "sell"; their median PT is $290.50 - LSEG

PRO BUSINESS A BOOST

** Piper Sandler ("overweight," PT: $307) says broader macro backdrop remains uncertain, but LOW looks set to gain market share when the conditions improve and Pro business initiatives to drive benefits

** D.A. Davidson ("neutral," PT: $270) believes Pro business remains a strength for LOW but sees negative comps in Q4 as macro backdrop remains a challenge

** TD Cowen ("hold," PT: $290) says spending on discretionary items will remain pressured for the upcoming quarters as focus remains on interest rate backdrop

** BofA Global Research ("buy," PO: $305) expects LOW's business initiatives to support share gains and margins even amid a choppy macro backdrop and uncertainty in timing of discretionary spending recovery

(Reporting by Akriti Shah)

((akriti.shah@thomsonreuters.com))

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