大行评级|花旗:上调劳氏目标价至236美元 维持“中性”评级

Bank Rating | Citibank: Raising Lowe's Target Price to $236 to Maintain a “Neutral” Rating

Gelonghui Finance ·  Feb 21 14:46
Glonghui, Feb. 21 | Citibank published a research report saying that the fourth quarter same-store sales forecast for the US home furnishings retailer Lowe's was slightly lower than market expectations. Earnings per share for the fourth quarter are expected to be 1.66 US dollars, while the market forecast is 1.67 US dollars. The bank expects January to be the most challenging month. The operating profit margin for the fourth quarter is 9%, down 52 basis points from year to year. This is due to the Group's gross margin falling by 30 basis points and a moderate deleveraging of operating expenses. The bank adjusted its earnings estimate per share for the 2024 fiscal year to $12.34. The target price was raised from $199 to $236 in view of same-store sales performance lagging behind that of peers Home Depot and uncertainty over profit margin recovery time, maintaining the Group's “neutral” rating.

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