Lowe's: Jefferies raises target price

(CercleFinance.com) - Jefferies confirms its 'buy' recommendation on Lowe's Companies shares, while raising its target price from $267 to $274, continuing to see pent-up demand poised to accelerate comparable sales and generate fixed-cost leverage.


In its opinion, homeowners are resuming their spending on durable goods, an easing of Fed policy will make it easier for baby boomers to move, and slowing inflation is making expensive items more affordable in the eyes of consumers.

The broker believes that these various factors will encourage an unblocking of demand in the home renovation sector. Until then, Jefferies is counting on Lowe's initiatives to 'weather the storm'.


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