Shares of Lowe’s Companies Inc (NYSE:LOW) tanked in early trading on Thursday, despite the company’s upbeat first-quarter report.
Here are the key analyst insights:
- JPMorgan analyst Christopher Horvers maintained an Overweight rating, while slashing the price target from $325 to $279.
- BofA Securities analyst Christopher Nardone reiterated a Neutral rating and cut the price target from $260 to $257.
Check out other analyst stock ratings.
JPMorgan: Lowe’s overall results were solid, with sales slightly missing expectations. Still, earnings of $3.03 per share topped consensus of $2.97 per share due to a higher-than-expected gross margin of 32.7%. Consistent with rival Home Depot Inc (NYSE:HD), the company reiterated its full-year guidance.
The company lowered its second-quarter earnings outlook to around $4.24 per share, down from its prior projection of $4.46 per share, reflecting …