January 07, 2013 at 13:27 PM EST
Lowe's Downgraded On 'Misguided' Overhaul Efforts
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
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