1057 ET - The extended home improvement downcycle is unlikely to turn around soon, but Lowe's can still grow even so, say analysts from JPMorgan. The analysts "don't, at all, expect a remodel cycle at current rates given affordability headwinds and the lack of upward home price appreciation that typically drives big-ticket/refinanced spending." A remodel cycle is only likely to begin once mortgage rates drop below 6%. That presents some risk for Lowe's, but the company's 2026 performance should improve even without a macro turnaround. "Improved replacement cycles, tax stimulus and a tick of inflation, should accelerate market growth more fully next year," the analysts say. (nicholas.miller@wsj.com)

(END) Dow Jones Newswires

October 22, 2025 10:57 ET (14:57 GMT)

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