On August 12, Lowe's declined 3.03% in regular trading, trading at approximately $214.68 per share, with turnover of $125 million. The selloff came as multiple investment banks cut their price targets ahead of the company's Q2 fiscal earnings report scheduled for August 19.

On the news front, Bernstein lowered its price target on Lowe's to $262 from $281 while maintaining an Outperform rating. BofA Securities trimmed its target to $256 from $257, and JPMorgan had previously slashed its target significantly to $252 from $279, both maintaining Overweight ratings. The consensus mean price target now stands at approximately $262.70. Concerns over industry competition and weaker DIY discretionary demand added to selling pressure.

Market consensus expects Q2 revenue of $26.22 billion, up 9.42% year-over-year, with adjusted EPS of $4.24, roughly flat from a year ago. Lowe's Q1 results showed comparable transactions declined 0.9%, reflecting ongoing consumer pressure, and the company maintained its full-year guidance of $12.25 to $12.75 in adjusted EPS on $92-$94 billion in sales.

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