Goldman's reason for the upgrade was Lowe's improved margins despite a time when "many retailers are likely to experience decelerating growth." After the news the stock gained +2% in the premarkets. The retail stock has gained +10.2% over the past month.
Along with the buy recommendation, Goldman estimated that the retailer's EPS would jump 18% in the third quarter and 31% in the fourth quarter. Lowe's will release its earnings report on Nov. 15.
Wal-Mart (WMT)Despite consumer spending being down, Citi has announced that it will maintain its buy rating of Wal-Mart (WMT). They have also reiterated their price target of $64, for the retail stock.
Wal-Mart will release its earnings report on Nov. 16, and shareholders will discover if Citi's recommendation holds true.
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