Floor & Decor price target raised to $105 from $85 at Telsey Advisory

Telsey Advisory raised the firm’s price target on Floor & Decor to $105 from $85 and keeps an Outperform rating on the shares post the Q2 results. While the business is likely to remain under pressure in the near-term from the soft housing market trends and lapping the solid COVID-19 and government stimulus related gains from the past two years, longer term, Floor & Decor will be a disruptor and market share gainer in the flooring space, the analyst tells investors in a research note.