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Lowe’s Target, Estimates Cut at Piper Jaffray (LOW)

Home improvement warehouse operator Lowe's Companies, Inc. ( LOW ) on Tuesday saw its price target and earnings estimates lowered by analysts at Piper Jaffray.

The firm said it now expects LOW shares to reach $19, suggesting a small downside to the stock's Monday closing price of $19.68.

Piper Jaffray maintained its "Neutral" rating buy also cut its earnings estimates, citing a second straight quarter of weakening sales and comps.

Lowe's shares fell 32 cents, or -1.6%, in premarket trading Tuesday.

The Bottom Line

Shares of Lowe's ( LOW ) have a 2.85% dividend yield, based on last night's closing stock price of $19.68. The stock has technical support in the $17 price area. If the shares can firm up, we see overhead resistance around the $22-$23 price levels.

Lowe's Companies, Inc. ( LOW ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 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 Nasdaq, Inc.

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

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