Floor & Decor price target raised to $100 from $82 at Loop Capital

Loop Capital analyst Anthony Chukumba raised the firm’s price target on Floor & Decor to $100 from $82 and keeps a Hold rating on the shares. Despite the “difficult” Q2 results and guidance cut that were “fairly understandable” given the macroeconomic headwinds, the firm continue to believe that the company has attractive long-term growth prospects, particularly given the growing pricing gap between Floor & Decor and its competitors, the analyst tells investors in a research note. The management’s 2023 guidance reduction also eliminates a significant overhang from the stock, Loop added.