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Strategies & Market Trends : Range Bound & Undervalued Quality Stocks

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To: Esway who wrote (773)	1/27/2000 10:44:00 PM
From: Esway	of 5499

LOW:Thursday January 27, 5:48 pm Eastern Time RESEARCH ALERT - Lowe's raised to strong buy CHICAGO, Jan 27 (Reuters) - Edward Jones analyst Linda Bannister Thursday upgraded her rating of Lowe's Cos Inc. (NYSE:LOW - news), the nation's No. 2 home improvement retailer, to strong buy from buy. -- Said Lowe's is benefiting from the growth of the home improvement market, due to robust home-building, renovation and repair activity due to aging of homes, the rise in home ownership, favorable financing terms and the discretionary time being spent at home. -- Estimates an additional $7 to $8 billion will be spent on store expansion over the next five years with an emphasis on metro markets. -- Expects Home Depot (NYSE:HD - news), the nation's No. 1 home improvement retailer, and Lowe's will continue to gain market share in the fragmented industry as less competitive players retrench or merge with another retailer. -- Expects same-store sales gains of 4 to 6 percent over the last few years to continue driven in part by Lowe's focus on installed sales, special order sales and the commercial business customer. -- Shares of Lowe's were off 5/8 at 46 on the New York Stock Exchange in midday trade.

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