Lowe's Companies, Inc. ( LOW - Free Report ) reached a new 52-week high of $268.71 on Friday, a significant milestone that has caught investors' attention. The company's ongoing strategic initiatives and favorable economic conditions set a positive tone for its performance. The Federal Reserve's recent 50-basis point interest rate cut has injected further optimism. With the stock trading near its peak, investors are faced with the question: How should they play Lowe's ahead? Lowe's stock has exhibited an uptrend since Sept. 18, when the Federal Reserve announced its first rate cut in four years.