Baird analyst Justin Kleber raised the firm’s price target on Floor & Decor to $120 from $110 and keeps an Outperform rating on the shares. The firm said they remain comfortable with 2Q expectations; however, they wouldn’t be surprised to see management reduce its FY23 outlook, particularly for comps/sales. Baird said they still see attractive longer-term upside in shares as cyclical pressures start to fade and the company’s disruptive store model continues to fuel market share gains.
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