Lowe's upgraded to Outperform from Perform at Oppenheimer Oppenheimer upgraded its rating on Lowe's (LOW) to Outperform from Perform on expectations sales will improve as the winter weather gives way to more favorable spring conditions. The firm raised its price target for shares to $57 from $50. Opco keeps an Outperform rating on Lowe's competitor Home Depot (HD) and raised its price target for those shares to $93 from $86.
Lowe's announces new $5B share repurchase program Reflecting its commitment to return excess cash to shareholders, the Board of Directors for Lowe's Companies has authorized a new repurchase program of $5B of the company's common stock. This new repurchase program has no expiration date and adds to the previous program's balance, which was $2.4B as of January 30.