Shares of home improvement firm Lowe's (LOW.N) were down about 2% at $218.95.
Wall Street's main indexes inched lower after the S&P 500 and the Dow hit record highs last week, as investors weighed Middle East developments and awaited crucial inflation data and earnings.
Brokerage BofA cut its price target on LOW to $256 from $257.
BofA noted that Lowe's management has a higher take on promotions in this value-sensitive consumer backdrop.
The brokerage sees downside risk to margins in the second half if higher promotions are needed to drive traffic.
"Expect Home Depot and Lowe's to use tariff refunds to help offset higher supply chain costs and potentially help fund promotions" - BofA.
Lowe's is set to report second-quarter results on August 19.
Of 36 brokerages covering the stock, 23 rate it "buy" or higher, 12 "hold" and 1 "sell" or lower; the median price target is $272, according to data compiled by LSEG.
As of the last close, the stock was down 9% year to date.
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