Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

Lehman Raises Lowe's Outlook

Lehman Brothers raised Lowe's (LOW) estimates and target.

Analyst Alan Rifkin says the 75 cents second-quarter earnings per share beat his 71 cents Street-high estimate, and beat management's guidance of 68 cents to 70 cents. Rifkin ties outperformance to strong sales improvement resulting from better weather, pent-up customer demand, gross margin improvement, and expense control. He notes Lowe's EBIT margin exceeded 11% for first time in its history.

Rifkin raised the $2.22 fiscal 2004 (Jan.) earnings per share estimate to $2.26, and raised the $2.55 fiscal 2005 estimate to $2.60. He still sees third-quarter earnings per share of 51 cents, and says comparison-store sales thus far in the third quarter are tracking above the high end of management's 5%-6% growth guidance. He keeps his equal-weight rating, and upped the price target to $57.

blog comments powered by Disqus