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Lowe's Shares Decline on JPMorgan Downgrade

Lowe's shares fell after being downgraded to Neutral from Overweight by JPMorgan.

Lowe's (LOW) - Get Report shares were lower Wednesday after analysts at JPMorgan lowered the company's rating to NEUTRAL from OVERWEIGHT while also slashing its price target to $72 from $87. JPMorgan believes that an uneven consumer environment, difficult comparisons ahead, higher exposure to big ticket spending among a declining backdrop of consumer confidence, and a tougher promotional atmosphere foreshadows a tough road ahead for the home improvement retailer.

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