Lowe's Companies To Face Near-term Pressure Amid Soft Housing Market Trends: Analyst
Portfolio Pulse from Nabaparna Bhattacharya
Telsey Advisory Group analyst Joseph Feldman has reiterated the Market Perform rating on Lowe's Companies, Inc. (NYSE:LOW), but lowered the price target to $225 from $230. The analyst reduced 3Q23 and annual estimates on the company due to the tough macro climate for the industry. The company's business is expected to remain under pressure from the soft housing market trends. The resumption of student loan payments this month is also anticipated to pose a negative headwind on the business.
October 04, 2023 | 7:59 pm
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Lowe's Companies, Inc. is expected to face near-term pressure due to the soft housing market trends and the resumption of student loan payments. The company's price target has been lowered to $225 from $230.
The analyst has lowered the price target for Lowe's Companies due to the tough macro climate for the industry and the soft housing market trends. The resumption of student loan payments is also expected to negatively impact the business. These factors are likely to put pressure on the company's stock price in the near term.
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