Lowe’s stock is getting nailed with a downgrade by analysts at Citi on fears that a rapid cooling in the housing market will hammer demand at the home improvement retailer.
Citi analyst Steven Zaccone slashed his rating on Lowe’s to neutral from buy on Thursday.
“We see risk of a 2Q miss on same-store sales and EPS vs. Street with the potential to cut FY22 guidance given the weak first half results,” Zaccone wrote in a new note to clients. “We believe the buy-side is bracing for a miss and…
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