Floor & Decor price target raised to $105 from $95 at Wells Fargo

Wells Fargo analyst Zachary Fadem raised the firm’s price target on Floor & Decor to $105 from $95 and keeps an Equal Weight rating on the shares. Despite constructive intra-quarter meetings, a 50bps rate cut and likely in-line Q3, the firm sees a complicated near-term setup. Category reads are still soft, hurricane sales to-be-determined, and shares reflecting seemingly aspirational FY25 assumptions, Wells adds.