Despite the beat, the company maintained its full-year guidance, which reflects "a challenging macro backdrop and ongoing weakness in DIY spending, particularly on big ticket discretionary categories," the analyst further wrote. JPMorgan On Lowe's Companies Analyst Christopher Horvers reaffirmed an Overweight rating on the stock. Lowe's better-than-expected comps "appears to support our view that DIY could be forming a bottom first as larger projects lag with LOW also growing pro and online sales as it executes on sales productivity opportunities," Horvers said. "While the gross margin miss merits understanding, the strong SG&A dollar control is supportive of our view that LOW as not over-earning and has opportunities to drive continues efficiencies," he added. LOW Price Action: Shares of Lowe's Companies had declined by 0.68% to $223.32 at the time of publication on Wednesday.