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Truist Raises Lowe's Price Target Amid Strong Sales
4.1
Relevance Score
On January 16 Truist raised its price target on Lowe's Companies, Inc. (NYSE:LOW) to $295 from $269 and maintained a Buy rating after reviewing Truist Card data and ICR holiday updates. The firm cited resilient December sales and a potential rise in tax refunds as tailwinds; Lowe's roughly 38% payout ratio and over $10 billion in acquisitions bolster its dividend-growth thesis.
