Will This Downgrade Hurt Lowe's (LOW) Today?

Story updated at 9:35 a.m. to reflect market activity.

NEW YORK (TheStreet) -- Lowe's (LOW) was downgraded to "neutral" from "outperform" by Wedbush Thursday.

Lowe's fell 0.6% to $50.06 in morning trading.

The analyst firm lowered its price target for the company to $50 from $60. Lowe's is leveraged to a slowing housing market according to Wedbush.

"While we continue to believe LOW is now positioned to maintain or gain share as burgeoning operational momentum takes hold, a slowing housing market may pressure comps by 50-100 bps more than expected in 2014, with the impact primarily in the back half of the year," analyst Seth Bashman wrote. "Traffic will likely stall first, followed by ticket in late 2014/early 2015."

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Separately, TheStreet Ratings team rates LOWE'S COMPANIES INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate LOWE'S COMPANIES INC (LOW) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income, notable return on equity and solid stock price performance. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."

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