Analyst Upgrades Lowe's To 'Buy'

New York, NY, Sept. 2, 2008--Goldman Sachs upgraded Lowe's Companies  to "buy" from "neutral," citing in part a stabilizing housing market.

The brokerage said housing turnover declines moderated again in July to 15.5 percent from 17.9 percent in June, the fifth consecutive improvement and the smallest drop since July 2007.

Declines in existing home sales slowed to 12.4 percent from 15 percent in June, it noted.