Canaccord Bearish on Lowe’s; Downgraded to “Sell” (LOW)
On Monday Canaccord analysts offered a bearish view on Lowe’s Companies, Inc. (LOW) as the home improvement retailer’s recent management changes and store improvements do not seem to be effective to drive growth.
The analysts downgraded LOW from “Hold” to “Sell.” The firm sees shares of Lowe’s reaching $27, a -24.1% downside to Friday’s closing price of $35.58.
Lowe’s shares were down 39 cents, or -1.10%, during premarket trading on Monday. Shares are 35% over the last year.
The Bottom Line
Shares of Lowe’s (LOW) have a 1.80% dividend yield, based on Friday’s closing stock price of $35.58. The stock has technical support in the $32 price area. The shares are trading at all-time highs.
Lowe’s Companies, Inc. (LOW) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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