Floor & Decor price target lowered to $115 from $125 at Wells Fargo

Wells Fargo analyst Zachary Fadem lowered the firm’s price target on Floor & Decor to $115 from $125 and keeps an Overweight rating on the shares. The firm expects Floor & Decor to trade lower following softer Q2 and quarter-to-date comps, the analyst tells investors in a research note. The firm sees $100 an attractive long-term entry point with a likely return to the 20%+ long-term algorithm at some point in 2024.