Evercore ISI is adding Floor & Decor to the firm’s "Tactical Underperform" list ahead of the company’s earnings report due on February 23. The firm believes consensus estimates for Q4 are "reasonable, but marginally too high," but it sees downside potential to the stock price when management guides to 2023 EPS next week. The firm’s reduced 2023 EPS estimate of $2.80 is down from its "already lower than consensus" estimate of $2.90 and Street estimates of $3, the analyst tells investors. Evercore has an Outperform rating and $90 price target on F&D shares.
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Published first on TheFly
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