Floor & Decor Faces Near-Term Challenges Despite Disruptive Potential: Analyst Revises Price Target Amid Lowered Guidance
Portfolio Pulse from Nabaparna Bhattacharya
Telsey Advisory Group analyst Joseph Feldman has reiterated the Market Perform rating on Floor & Decor Holdings, Inc. (NYSE:FND), raising the price target to $105 from $85. Despite reporting Q2 results with net sales of $1.135 billion, a 4.2% Y/Y increase, the company lowered its 2023 guidance due to a slow start in Q3 and soft housing market trends. The company's shares are trading lower by 6.5% to $103.75.
August 04, 2023 | 7:19 pm
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NEGATIVE IMPACT
Floor & Decor's lowered 2023 guidance and slow Q3 start may negatively impact its stock price in the short term.
The company's lowered 2023 guidance and slow Q3 start, along with soft housing market trends, are likely to negatively impact investor sentiment and thus the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100