Could Lowe's Be a Millionaire Maker Stock?
Lockdowns and stay-at-home orders put in place by state and local governments in response to the coronavirus pandemic spurred a boom in DIY projects. And the Federal Reserve's policy of keeping benchmark interest rates near zero to support the economy through the crisis is helping to fuel further spending on remodeling projects.
Those two factors would seem to make this an ideal environment for both Lowe's (NYSE: LOW) and Home Depot (NYSE: HD), yet Lowe's has significantly outperformed both its larger rival and the market this year, especially since Wall Street's early spring plunge. Shares of Lowe's are up 157% from their March low compared to a 96% gain for Home Depot and a gain of about 50% for the S&P 500.
Over the past decade, however, Home Depot has significantly outstripped its peer. Can Lowe's can maintain its newfound momentum and make millionaires out of its current investors?
Source Fool.com
