On July 2, we noted, “If you pull up a three-year chart of Lowe’s (SYM: LOW), you’ll see the stock historically pops around June and July just ahead of storms.”
At the time, LOW traded at around $212. Today, LOW is up to $239.20, as we just start getting into the 2024 hurricane season. Plus, according to analysts at Mizuho says LOW is one of its top picks for the consumer sector.
“The home improvement sector is moving towards the later stages of post-pandemic digestion, with LOW set to favorably lap the more pronounced downshift in DIY spending starting in Q3,” Mizuho said. Mizuho has a target price of $280 and a rating of Outperform on the stock.