Lowe's falls on broader market decline; BofA cuts PT

The Home Depot

10/08/2026 17:21

** Shares of home improvement firm Lowe's LOW.N down ~2% at $218.95
** Wall Street's main indexes inched lower after the S&P 500 and the Dow hit record highs last week, as investors weighed Middle East developments and awaited crucial inflation data and earnings .N
** Brokerage BofA cuts PT on LOW to $256 from $257
** Notes that LOW's management has a higher take on promotions in this value sensitive consumer backdrop
** Brokerage sees a downside risk to margins in second-half if higher promotions are needed to drive traffic
** "Expect Home Depot and Lowe's to use tariff refunds to help offset higher supply chain costs and potentially help fund promotions" - BofA
** Lowe's to report second-quarter results on August 19
      ** 23 of 36 brokerages rate the stock "buy" or higher, 12 "hold" and 1 "sell" or lower; their median PT is $272- data compiled by LSEG
** As of last close, stock down 9% YTD

 (Reporting by Koyena Das from Bengaluru)
 ((Koyena.das@thomsonreuters.com))