Floor & Decor price target raised to $110 from $71 at Loop Capital

Loop Capital analyst Anthony Chukumba raised the firm’s price target on Floor & Decor to $110 from $71 and keeps a Hold rating on the shares. The company’s Q4 earnings beat was particularly encouraging following its multiple “miss and lowers” quarters last year, the analyst tells investors in a research note. The management’s 2024 guidance came up short of expectations, though this was overshadowed by the 3.1% sequential increase in U.S. existing home unit sales in the month of January, the firm added.