Wedbush raised the firm’s price target on Floor & Decor to $125 from $115 and keeps an Outperform rating on the shares. Floor & Decor’s Q4 results topped expectations on the top- and bottom-lines, but pointed to Q1-to-date comps down 12.8% and its 2024 guidance was below consensus estimates, the analyst tells investors in a research note. Still, Wedbush believes Floor & Decor is a category killer on track to double its store base over time, comps should turn positive by Q4 as the macro improves, and incremental margins could surprise to the upside in 2025 against a lean cost structure.
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