Guggenheim lowered the firm’s price target on Floor & Decor to $95 from $115 and keeps a Buy rating on the shares. The firm thinks recent moderation in multi-year transaction trends will likely weigh on first half of 2024 comp growth and now expects 2024 new store growth to be slightly below management’s prior target of at least 35, calling it “appropriate to re-frame our 2024 expectations.”
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