The Lilywhites boss has claimed that the club is hoping to add a couple of forwards to the team ahead of the new season.
PNE are set to compete for the signing of Archer from Aston Villa, with former Villa assistant Michael Beale now managing QPR.
That has also seen QPR linked with a move for the youngster, who spent the second half of last season at Deepdale.
Speaking on Sky Sports, the 43-year old confirmed that he is a fan of the striker and is hoping he can remain at the club for the start of the season.
However, any decision will likely come following Villa’s return to pre-season as Steven Gerrard intends to evaluate the player himself before discussing his future.
“I think with Cameron, it’s down to him what he wants to do. We are in the market for a couple of strikers also,” said Lowe, via London Football News.
“He wants to represent Aston Villa and for him to get more games under his belt in a competitive league like the Championship, that (another loan move) may be the way forward. I’m quietly confident.”
Quiz: The celebrities that support Preston North End – But how well do you know them?
Archer scored seven goals in the Championship last season as he helped Preston achieve a 13th place finish in the table.
The 20-year old made his Premier League debut before going out on loan, coming off the bench three times in the first half of the campaign, the first of which came in a 1-0 win over Manchester United.
Archer performed quite well with Preston last season and keeping him there for a full season could be a great next step for his development.
A move to QPR would come with slightly bigger risks as it would be a new environment for him to have to learn and adapt to, whereas he knows Preston quite well already.
Assessing him for pre-season is a logical move from Gerrard, and if he impresses then he may not even go out on loan.
But if he does move, maintaining that relationship with Preston should be seen as the preferred option.