Floor & Decor upgraded to Buy from Hold at Stifel

Stifel analyst W. Andrew Carter upgraded Floor & Decor to Buy from Hold with a price target of $110, up from $100. The company’s Q4 results outpaced expectations with stronger profitability and comparable sales, which drives confidence in an improving revenue growth trajectory, the analyst tells investors in a research note. The firm believes Floor & Decor’s guidance established an “achievable benchmark,” shifting investor focus from trepidation around ongoing negative revisions to the company’s “advantaged long-term growth prospects.”