Analysts Are Cutting Price Targets of These 5 Stocks

03. Lowe’s Companies, Inc. (NYSE:LOW)

Number of Hedge Fund Holders: 68

Lowe’s Companies, Inc. (NYSE:LOW) is an American retail company headquartered in Mooresville, North Carolina. It primarily sells home improvement products. Some of the products in its stores include hardware, flooring, plumbing, kitchen, and bathroom products.

Argus has lowered the price target for Lowe’s Companies, Inc. (NYSE:LOW) from $290 to $250 but maintains a Buy rating on the company’s shares following its Q1 results. According to the analyst research note issued on May 25, Lowe’s Companies, Inc. (NYSE:LOW) experienced a 5.6% decrease in sales due to lumber deflation, which impacted its top-line performance. However, Argus highlights that Lowe’s is still well-positioned to achieve future earnings growth and gain market share, despite the challenges of tighter monetary policy and reduced consumer discretionary spending. Nonetheless, the firm has revised its estimates for Lowe’s, reducing its FY24 EPS estimate to $13.45 from $13.84 and its FY25 estimate to $15.00 from $15.50.