UBS analysts increased their price target for Lowe’s (NYSE:LOW) from $290 to $300 while maintaining a Buy rating, after the company reported its Q3 results yesterday.

Lowe’s is positioned to benefit significantly from a rebound in big-ticket discretionary categories such as kitchen and bath remodels, which have been pressured by weakness in DIY projects. As these categories recover, Lowe’s is expected to capture outsized gains. Additionally, the company continues to deliver robust growth in its professional customer segment, aiming to outpace market growth in this area by a factor of two.

Lowe’s ongoing Perpetual Productivity Improvement (PPI) initiatives are also driving operational efficiencies and margin expansion. These combined factors are projected to fuel double-digit earnings growth as the broader home improvement market recovers, reinforcing the bullish outlook for the company’s future performance.