Lowe's Companies, Inc. "Home Is Where The Alpha Is" (Buy) Lasser

研报英文原文证据摘录

Lowe's Companies, Inc. "Home Is Where The Alpha Is" (Buy) Lasser

Global Research

20 May 2026ab

Lowe's Companies, Inc. Equities

AmericasHome Is Where The Alpha Is

Retailers, Broadline

12-month rating Buy

LOW's 1Q print showed that its strategy is working; the outlook for 2026

remains credible

12m price target US$285.00

While LOW's 1Q had its puts and takes, our main takeaway is that LOW is executing its Prior : US$315.00

Total Home Strategy well, even as the backdrop remains challenged. Simply put, four

Price (20 May 2026) US$221.05

quarters of consecutive comp growth reflects deliberate, persistent momentum across

several aspects of Lowe's business, including pro, ecommerce, appliances and home RIC: LOW.N BBG: LOW US

services. We believe the market is under-appreciating this.

Trading data and key metrics

52-wk range US$287.39-210.83

While the skeptics will point to the comp shortfall relative to the buy-side bar, it's hard to Market cap. US$124b

dismiss that LOW is still growing even as it's seeing a disproportionate impact from the

Shares o/s 559m (COM)

ongoing DIY softness. This means that LOW should soon return to sustainably comping

Free float 100%

3% - 5% once the housing market normalizes and consumers return to engaging in the

Avg. daily volume ('000) 792

bigger ticket discretionary projects. Until then, LOW should continue to capture the

underlying demand for the non-discretionary repair and maintenance projects. This was Avg. daily value (m) US$190

evident in 1Q as Lowe's offerings resonated with its customer base. Plus, the company Common s/h equity (01/27E) US$-5.29b

continued to expand its pro and digital capabilities while simultaneously managing its P/BV (01/27E) NM

profitability. So, we believe LOW is poised for outsized earnings growth.