Floor & Decor price target raised to $127 from $102 at Truist

Truist raised the firm’s price target on Floor & Decor to $127 from $102 and keeps a Buy rating on the shares. The firm is reducing its FY24 EPS view to $2.01 from $2.08 to reflect poor weather to start the year, higher container costs on imports and signs of pricing pressure in ceramic tile, anticipating the management to take a conservative stance on guidance, the analyst tells investors in a research note. Truist adds however that it still sees a recovery for Floor & Decor unfolding later this year.