Lowe’s Upgraded to “Overweight” at Morgan Stanley (LOW)

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Home improvement warehouse operator Lowe's Companies, Inc. ( LOW ) on Monday caught a big upgrade from analysts at Morgan Stanley.

The firm said it raised its rating on LOW from "Equal-weight" to "Overweight" with a $38 price target, suggesting a 22% upside to the stock's Friday closing price of $31.09. Morgan Stanley noted the home improvement industry will likely sustain moderate growth over the next several years.

Lowe's shares, which have risen more than 22% year-to-date, posted small gains in premarket trading Monday.


The Bottom Line
Shares of Lowe's ( LOW ) have a 1.80% dividend yield, based on Friday's closing stock price of $31.09. The stock has technical support in the $27-$28 price area. If the stock can firm up, we see overhead resistance around the all-time high levels of $34-$35 a share.

Lowe's Companies, Inc. ( LOW ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: LOW

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