Lowe’s Companies, Inc. (NYSE:LOW) announced today it has agreed to sell $250 million of Floating Rate Notes due 2018, $750 million of 3.375% Notes due 2025 and $750 million of 4.375% Notes due 2045. Estimated net proceeds from this offering will be approximately $1.7 billion, after deducting offering expenses and underwriters’ discounts. Lowe’s intends to use the net proceeds from the sale of the Notes for the repayment of $500 million aggregate principal amount at maturity of its 5.000% Notes due October 15, 2015 and for other general corporate purposes. Closing is expected to occur on September 16, 2015. (Original Source)
Shares of Lowe’s Companies closed today at $68.11, down $1.20 or 1.73%. LOW has a 1-year high of $76.25 and a 1-year low of $49.85. The stock’s 50-day moving average is $69.34 and its 200-day moving average is $70.75.
On the ratings front, Lowe’s Companies has been the subject of a number of recent research reports. In a report issued on August 20, UBS analyst Michael Lasser maintained a Buy rating on LOW, with a price target of $82, which represents a potential upside of 20.4% from where the stock is currently trading. Separately, on the same day, Wedbush’s Seth Basham reiterated a Buy rating on the stock and has a price target of $84.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Michael Lasser and Seth Basham have a total average return of 11.7% and 18.6% respectively. Lasser has a success rate of 62.4% and is ranked #284 out of 3752 analysts, while Basham has a success rate of 66.7% and is ranked #446.
Overall, 2 research analysts have assigned a Hold rating and 5 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $82.33 which is 20.9% above where the stock opened today.
Lowe’s Companies Inc is a home improvement retailer, which serves home-owners, renters and Commercial Business Customers.