Lowe's Beats Expectations, Raises Guidance, Spends $8.8 Billion To Boost Pro Customer Offerings

Lowe’s Companies Inc (NYSE:LOW) reported better-than-expected sales and earnings for the second quarter, while raising its full-year guidance and unveiling a significant acquisition.

The Lowe’s Companies Analyst: JPMorgan analyst Christopher Horvers reiterated an Overweight rating on the stock.

The Lowe’s Companies Thesis: The company reported earnings of $4.33 per share, up 5.7% year-on-year. That’s about 2% higher than consensus, Horvers said in the note.

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Comps of +1.1% came in-line with Street ...