Lowe's Stock Could Blast 40% Higher, According to Analyst
A prominent Lowe's (NYSE: LOW) bull is charging harder on the company's stock. Morgan Stanley analyst Simeon Gutman on Friday raised his price target on the home improvement retailer, upping it to $210 per share from the previous $190 while maintaining his overweight (read: buy) recommendation.
The new target is exactly 40% higher than Lowe's most recent closing stock price.
Gutman made his revision on the belief that the current average analyst earnings projections for the company underestimate a critical factor: demand for home improvement goods and services. The prognosticator feels it's realistic that Lowe's will hit its target of a 12% EBIT (earnings before interest and taxes) margin in 2021.
Source Fool.com
