On Wednesday, Barclays (LON:BARC) reiterated its Equalweight rating on Lowe's Companies, Inc. (NYSE:LOW) stock, with a steady price target of $229.00.
The home improvement retailer's first-quarter results showed a mix of outcomes, with sales performing better than anticipated, yet still registering in the negative territory.
Gross margins (GM) were slightly below expectations, which the firm attributed in part to the company's promotional activities.
Lowe's has projected a sales increase in the second half of the year, along with a more significant improvement in gross margins. The company appears to have a clearer vision for the latter half of the year, as indicated by the guidance provided.
The home improvement company's recent performance and future expectations are being closely monitored by investors. Lowe's has been navigating a challenging retail environment, where consumer spending patterns and competitive dynamics are in flux.
The unchanged price target by Barclays suggests a level of caution balanced with the anticipation of a potential turnaround in the latter part of the year. The company's strategic efforts to improve sales and margins are expected to play out in the coming months.
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