Telsey Advisory lowered the firm’s price target on Floor & Decor to $90 from $105 and keeps a Market Perform rating on the shares ahead of the Q3 earnings report on November 2. Floor & Decor’s Q3-to-date comp was down 8.4% as of August 3, and sales likely remained challenged through the balance of the quarter, going against comps of 14% and 10% in August and September 2022, respectively, the analyst tells investors in a research note. Additionally, the housing market remains weak, the firm notes.
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