Loop Capital analyst Anthony Chukumba raised the firm’s price target on Floor & Decor to $100 from $82 and keeps a Hold rating on the shares. Despite the “difficult” Q2 results and guidance cut that were “fairly understandable” given the macroeconomic headwinds, the firm continue to believe that the company has attractive long-term growth prospects, particularly given the growing pricing gap between Floor & Decor and its competitors, the analyst tells investors in a research note. The management’s 2023 guidance reduction also eliminates a significant overhang from the stock, Loop added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on FND:
- Floor & Decor management to meet with Telsey Advisory Group
- Floor & Decor price target lowered to $115 from $125 at Wells Fargo
- Floor & Decor price target raised to $105 from $85 at Telsey Advisory
- Floor & Decor price target lowered to $110 from $115 at Wedbush
- Floor & Decor price target lowered to $115 from $120 at Baird