Lowe’s stock rose 2.5% after a Barclays upgrade, citing pent-up demand and tax policy changes. The analyst raised the price target to $285, expecting an upside of 16%. The home-improvement sector shows signs of improvement with lower mortgage rates and strong pending home sales.
While Lowe’s isn’t cheap with a P/E ratio of 21, it trades at a discount to the S&P 500. Investors should note that Lowe’s didn’t make the Motley Fool’s top 10 stocks list. Stock Advisor boasts a 971% average return, outperforming the S&P 500.
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Read more at Yahoo Finance: Why Lowe’s Stock Ticked Higher Today
