But the Pilgrims boss insists his side will show no fear against the ‘big-spending' Blues tomorrow.
Argyle have consolidated in League One after being promoted last season and currently sit 14th in the table.
In contrast, Pompey are once again pushing for the Championship having suffered play-off heartbreak for the past two campaigns.
They're fourth in the standings and are in the mix to go up automatically.
The Blues are favourites to deliver victory in the latest port battle after November's Home Park fixture ended a 2-2 draw.
Although Jackett still has some detractors among the Fratton faithful, Lowe reckons his opposite number is a ‘fantastic’ manager – just like Catlin in his behind-the-scenes role.
However, the Liverpudlian insists Plymouth can return to Devon with three points if they get their game-plan right.
Lowe told the Plymouth Herald: ‘We had a good game against them here (at Home Park). Could we have won the game? Certainly, yeah.
‘Could they have won the game? Possibly. Yeah, they have had a good win the other night (at Charlton on Tuesday).
‘We had someone there, we have got all the reports. We know what Portsmouth are about, but let’s make no mistake about it, it’s going to be a tough task to go there.
‘That’s what we are relishing. We went to Sunderland – big club. We are going to Portsmouth – big club.
‘These are the games we want to play in this league. We are under no illusions that it’s going to be tough but we are in good form ourselves.”
‘What I will say, they are a big spending football club, let’s have it right.
‘They have gone about their business right. They have got a fantastic manager in Kenny Jackett, a fantastic CEO in Mark Catlin, who I know.
‘They are a big club, they have got a great fanbase – along with ourselves – so it’s going to be a tough task.
‘They have got some fantastic players, way above our budgets of players, but that doesn’t mean to say they have every right to beat us.
“We have got to make sure we go there and do our business, and worry about ourselves. We respect them and we will try and go toe-to-toe with them.’