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Buy Lowe's for New Highs

As strong as this quarter is expected to be from an earnings perspective, it still pales in comparison to Lowe's long-term profit potential once management fully extracts value from this deal, which gives Lowe's 72 locations in California.

All told, there is plenty to like with Lowe's. And I would be a buyer here ahead of earnings, especially since the stock is down 7% on the year. Lowe's has yet to fully participate in the recent surge.

And at some point, investors will look for safety by taking money out of the other sectors and putting it into their homes, which should send Lowe's to new highs.

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At the time of publication, the author held no position in any of the stocks mentioned.


This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.

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