Lowe's Downgraded On 'Misguided' Overhaul Efforts
Posted on January 07, 2013 at 13:27 PM EST
Home improvement chain Lowe's (LOW) restructuring efforts are "misguided," and "counterproductive," Canaccord Genuity noted in downgrading the retailer to sell, from hold. Analyst Laura Champine wrote in a client note that the company's efforts to revamp products and to shift management around seem not to be generating additional sales. With a 40% run-up in share price in 2012, she believes it's now overpriced. Shares were down 2.2% intraday to