Citi Upgrades Lowe's to Buy With $285 Target as It Sees 26% Upside
Updated
Updated · CNBC · May 12
Citi Upgrades Lowe's to Buy With $285 Target as It Sees 26% Upside
2 articles · Updated · CNBC · May 12
Citi raised Lowe's to buy from neutral ahead of its May 20 earnings report, keeping a $285 price target that implies 26% upside from Monday's close.
The bank said Lowe's should beat first-quarter estimates and keep outperforming the home-improvement industry, arguing the sector has bottomed despite geopolitical and macro risks.
Citi pointed to four straight quarters of positive same-store sales at Lowe's and said the company has outperformed Home Depot on U.S. same-store sales for three consecutive quarters.
LSEG data shows analysts expect only marginal bottom-line growth to start the year, even as Lowe's shares are down 6% in 2026 amid weak consumer sentiment tied to the Iran war.
Wall Street is already broadly constructive on the stock, with 22 of 37 analysts rating Lowe's buy or strong buy.
Lowe's has outpaced Home Depot for three quarters. Is this a new era of dominance or just a temporary winning streak?
Citi bets on a home improvement boom, but with rising tariffs and hesitant consumers, is this optimism a house of cards?