Eight analysts have raised their EPS estimates on this home improvement retailer in the past 30 days. Our second recommendation is a short on an auto parts retailer, as a result of so-so sales.
Buy: Lowe’s Companies Inc. (LOW)
From Shortex Market Letter
Lowe’s Companies Inc. (LOW)
52wk H. $108.98 52wk L. 70.76
Mkt Cap: $78.15B, EPS: 4.09, P/E: 23.14, Beta: 1.34,
Div: 1.64
Lowe’s is a home improvement retailer. Pressured with its F/Y 4Q-17 where it missed forecasts and guidance fell short of expectations. So did the same-store sales. All due to bad weather. In correction/retraction mode since mid-Feb ’18. In repeated plunges pattern: 1st (107-102), 2nd (101-94), 3rd (96-88), 4th (87-84). Reversal gapped-up at (85-89) to (90-95). Refilled the 4th plunge of (87-84) set on 03/27/18. Challenging upper-head resistance at (97-102) in the offing. Volatile.
BUYING RANGE: 88-96
NR TERM OBJ: 110
INTERMED OBJ: 122
STOP LOSS: 82
Joseph Parnes, Shortex Market Letter, www.shortex.com, 800-877-6555, May 24, 2018