Truist Securities lowers Lowe’s stock price target to $256 on housing pressures

On Bloomberg Businessweek Daily, hosts Carol Massar and Tim Stenovec discussed the October FOMC minutes, revealing that many officials are hesitant about a rate cut in December. Bloomberg analysts Michael McKee and Stuart Paul provided insights on this development. The episode also covered Blue Owl's decision to cancel a merger of its private credit funds, alongside discussions on Lowe's exceeding profit expectations and TJ Maxx's strong performance amid a rise in frugal consumer behavior.

Lowe's reported third-quarter sales of $20.81 billion, driven by growth in its professional builder segment. The company expressed optimism that the ongoing downturn in home improvement may be beginning to reverse, indicating a potential recovery in the market.

Wolfe Research has maintained its stock price target for Lowe's at $308. This decision reflects the firm's confidence in Lowe's market position despite challenges in the home improvement sector. The stock target indicates a stable outlook for the company amidst fluctuating market conditions.

Truist Securities has increased its price target for Terns Pharmaceuticals to $35 following positive data from the American Society of Hematology (ASH) conference. This adjustment reflects the firm's confidence in the company's prospects based on the favorable results presented at the event.

Truist Securities has raised its stock price target for Amer Sports from $42 to $45, reflecting a positive outlook on the company's performance. This adjustment indicates confidence in Amer Sports' growth potential and market position.

Lowe's has adjusted its annual forecasts downward despite reporting a quarterly profit that exceeded expectations, leading to a rise in its shares. The company cited challenges in the home improvement market but noted growth in its professional builder business as a positive factor. This mixed performance reflects ongoing market dynamics affecting the retail sector.

Truist Securities has reaffirmed its stock rating for Dick's Sporting Goods, maintaining a target price of $275. This decision reflects the firm's confidence in the company's performance and market position. The reaffirmation comes amid ongoing evaluations of retail stocks, particularly in the sporting goods sector, where consumer demand and market trends are closely monitored. Investors may view this as a positive signal regarding Dick's Sporting Goods' future prospects.