Truist Raises Lowe's (LOW) Target to $295 as Card Data Supports the Setup

Lowe’s Companies, Inc. (NYSE:LOW) is included among the 13 Best Dividend Kings to Buy in 2026.

On January 16, Truist raised its price target on Lowe’s Companies, Inc. (NYSE:LOW) to $295 from $269 and maintained a Buy rating on the stock. The update was included in a broader research note covering hardlines and broadlines consumer names. Truist said it made the adjustment after reviewing its latest Truist Card data and ICR holiday updates, which led the firm to fine-tune its sales and earnings expectations. Truist also pointed to a potential tailwind for the broader retail space: a meaningful rise in tax refunds. The analyst believes that could help lift retail sales during months that are usually seasonally slower. For Lowe’s specifically, the firm said sales trends held up well in December, even with tougher year-over-year comparisons.

From an income perspective, Lowe’s remains a dependable dividend name. The company’s payout ratio sits around 38%, which gives it room to continue raising dividends over time. In practical terms, dividend growth should roughly track improvements in net income, assuming the payout ratio stays in that same range.

Lowe’s recent deal activity could also support that longer-term income story. Earlier this year, the company acquired Artisan Design Group and Foundation Building Materials, spending more than $10 billion combined. Those acquisitions fit into Lowe’s push to expand further into the professional customer segment by strengthening distribution capabilities and adding more building materials that serve residential and commercial contractors.

Lowe’s Companies, Inc. (NYSE:LOW) is one of the largest home improvement retailers, offering products across construction, maintenance, repair, remodeling, and decorating.

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