RONA inc. Cumulative Floating Rate Series 7 Class T.RON.PR.B

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FP Trading Desk Lowe's Canada may go after Rona: Analyst Now that Lowe's Canada has hired U.S. operating executive Don Stallings as president of its fledgling operations, Desjardins analyst Keith Howlett figures Rona Inc. (RON/TSX) should start looking over its shoulder if it already hasn't. "The stakes are raised," the analyst said in a note to clients. "Lowe’s will not be packing up and going home. It’s full bore ahead to become a major player in Canada, whether organically by opening new stores (the publicly stated objective), or by acquisition." Mr. Howlett told clients that he continues to believe there is a 40% probability that Lowe's will acquire Rona sometime before the end of the year at a price of $30 per share. He maintained his "buy" rating for Rona and left his price target of $26.50 unchanged. David Pett [e-mail] Link to this | E-mail this | Digg this | Post to del.icio.us Published Friday, August 10, 2007 11:08 AM by David Pett Filed under: RONA Comments No Comments Click here to post a comment.