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Why SunTrust Robinson Humphrey Upgraded Lowe’s

Why SunTrust Robinson Humphrey Upgraded Lowe’s

On September 28, SunTrust Robinson Humphrey upgraded Lowe’s (LOW) from “hold” to “buy” and raised its price target from $110 to $138. The new price target represents a return potential of 20% from its stock price of $114.52. Barron’s reported that Keith Hughes of SunTrust Robinson said that Lowe’s stock could rise 50% if the company manages to reclaim half of the difference between its SG&A (selling, general, and administrative) expenses and Home Depot’s expenses. It seems Lowe’s problems are more internal rather than as a result of competition.