Sell Lowe’s As U.s. Housing Rebound Slows: Canaccord | Financial Post

Analyst Laura Champine also cut her price target on the worlds second-largest home improvement retailer to US$37 from US$47, noting the stock is trading at a premium to historical multiples despite the lack of real change in its growth prospects. Lowes shares have risen 88% since the start of 2012, outpacing the 52% gain by the S&P 500 and 67% gain by the S&P Retailing Index. Related Lowes still looking for Canadian acquisitions: president Sylvain Prudhomme The stock clearly benefited from the flood of positive housing data over this interval, Ms. Champine told clients. We think investors will heighten their focus on underlying fundamentals as momentum slows. In her statement before the U.S. Congress Joint Economic Committee on May 7, Federal Reserve chair Janet Yellen cited the flattening out of the housing market as the one domestic risk to the Feds economic outlook based on the data so far in 2014. Ms.

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