Citigroup Maintains Neutral Rating for Lowe's Companies: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Citigroup has maintained its Neutral rating on Lowe's Companies (NYSE:LOW) but raised its price target from $199.00 to $236.00. Lowe's shares are currently trading at $225.51, and the new target suggests a potential upside of 4.65%. Lowe's, a leading home improvement retailer, operates over 1,700 stores in the U.S. after divesting its Canadian locations in 2023.
February 21, 2024 | 5:00 pm
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Citigroup maintains a Neutral rating on Lowe's but raises the price target from $199 to $236, indicating a potential 4.65% increase from the current price.
The increase in Lowe's price target by Citigroup reflects a positive outlook on the company's stock, suggesting a potential short-term upside. Given Lowe's position as a leading home improvement retailer and its recent divestiture in Canada, the raised target is likely based on strong market fundamentals and growth prospects. However, the Neutral rating indicates that Citigroup sees the stock as fairly valued at its current price, balancing the potential for growth with existing market risks.
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