1 Wall Street Analyst Thinks Lowe's Stock Is Going to $310. Is It a Buy?

Following its third-quarter earnings report, a slew of Wall Street analysts recently raised their price targets on Lowe's Companies (NYSE: LOW). Truist's Scot Ciccarelli raised his target to $310 while maintaining a buy rating on the stock.Wall Street has warmed to the home improvement sector this year, hoping to profit from a falling-interest-rate environment. As such, Ciccarelli and others see Lowe's as a beneficiary of an improving outlook for home spending driven by lower mortgage rates and a pick-up in home sales. The latter drives sales, as homeowners typically spend on improvements to prepare for a sale or after purchasing a property.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool