LOW - Prediction: Lowe's Stock Is a Screaming Buy But Only if You Believe 1 Thing
2024-03-09 07:45:00 ET
Lowe's Companies (NYSE: LOW) has absolutely crushed it for investors as shares have climbed 135% in the last five years. That gain far exceeds the 83% rise of the S&P 500 . And even with the major indices hitting all-time highs, Lowe's remains 8% below its peak price from December 2021.
So the business might be on your watch list as a potential opportunity. In fact, t his home improvement retail stock might be considered a screaming buy right now. But that's only if you believe it can significantly increase sales to a key customer segment in the years ahead: professionals.
Behind Home Depot , Lowe's is the second-largest player in the massive home improvement industry. The business sells a broad range of merchandise, from appliances and lumber to kitchen and garden products, to both do-it-yourselfers (DYI) and professional customers. The former group handles what are typically smaller and less complex projects on their own. DIY shoppers represent about 75% of Lowe's revenue.
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Prediction: Lowe's Stock Is a Screaming Buy, But Only if You Believe 1 Thing