Wedbush raised the firm’s price target on Floor & Decor to $115 from $100 and keeps an Outperform rating on the shares. The firm sees more downside than upside risk for Floor & Decor into Q2 earnings on Thursday, August 3. Further, Wedbush not only sees little improvement in Q2 trends, it also expects the company to reduce its full-year outlook. While the firm only expects a modest miss and guidance reduction, and buy side fundamental expectations are low, Wedbush would avoid Floor & Decor shares on the print following the stock’s recent strength.
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