Lowe’s Rises on Oppenheimer Upgrade By Investing.com

By Christiana Sciaudone

Investing.com — Lowe’s rose 3% after Oppenheimer upgraded the stock.

The home improvement company was bumped to outperform from perform by analyst Brian Nagel, StreetInsider reported.

“Our refreshed, more upbeat call on Lowe’s (NYSE:LOW) is largely tactical in nature and hinged upon prospects for a continued flow of funds into more cyclically focused equites and a now historically discounted valuation versus that of Home Depot (NYSE:HD),” Nagel wrote in a note.

Lowe’s hit a record this week, and the stock has been considered a Covid-19 winner amid a frenzy of home buying and renovation. Rival Home Depot also hit an all-time high this week.