NEW YORK Shares of home enchancment retailer Lowe’s Companies Inc (LOW.N) may rise by 20 percent or more, helped by higher projected earnings progress this yr and better room for margin improvement, Barron’s stated on Sunday.
The retailer, which has spent current years increasing into large cities nationwide, had been expected to pare its store progress for 2009. Lowe’s scaled again its 2008 openings to about 120, saying it could halt some in markets hardest hit by housing troubles. The house enchancment trade chief is upgrading shops, hiring extra commerce specialists and taking different moves this yr to enhance enterprise as rival Lowe’s Cos Inc (LOW.N) expands to greater U.S. cities.
Lowe’s shares rose 11 cents to $23.seventy three in morning buying and selling on the New York Stock Exchange, while Home Depot eased 40 cents, or about 1.6 %, to $24.86. Lowe’s is trading at about 15.5 instances anticipated … Read more