LOW - Lowe's Companies To Face Near-term Pressure Amid Soft Housing Market Trends: Analyst | Benzinga
Telsey Advisory Group analyst Joseph Feldman reiterated the Market Perform rating on Lowe's Companies, Inc. (NYSE: LOW), lowering the price target to $225 from $230.
Given the tough macro climate for the industry, the analyst reduced 3Q23 and annual estimates on the company, which may weigh on the near-term prospects.
Feldman notes that the company's business will likely remain under pressure from the soft housing market trends.
Further, demand pressures have continued to intensify and more than anticipated since the 2Q23 earnings call on August 22, indicating that sales in 3Q23 should come in ...