Meanwhile, Lowe’s shares rose 2.8%. Oppenheimer issued a bullish tactical call on Lowe’s after the home improvement stock hit a rough patch this week. “For a while, we have maintained a largely cautious and selective stance towards consumer, and in particular shares of key COVID-19 winners, upon concerns of a forthcoming post-pandemic normalization in spending and more challenging comparisons. We are not signaling an ‘all clear’ for LOW or our coverage, broadly. Instead, our refreshed, more upbeat call on Lowe’s is largely tactical in nature and hinged upon prospects for a continued flow of funds into more cyclically focused equities and a now historically discounted valuation versus that of Home Depot,” Oppenheimer analyst Brian Nagel said in a note.