Floor & Decor price target raised to $82 from $65 at Loop Capital

Loop Capital analyst Anthony Chukumba raised the firm’s price target on Floor & Decor to $82 from $65 but keeps a Hold rating on the shares. The company’s Q4 earnings beat also broke a string of five consecutive quarters of annual gross margin declines, the analyst tells investors in a research note, adding that Floor & Decor achieved the low end of its original 2022 earnings guidance range despite the myriad of macroeconomic headwinds. Loop Capital further note that the firm is bullish on the stock’s long-term fundamentals, though its valuation is keeping it at neutral.