Floor & Decor Holdings up after Telsey Advisory Group's upgrade

Floor & Decor Holdings

14/02/2025 15:19

** Shares of flooring supplies maker Floor & Decor Holdings
 FND.N  rise as much as 4.7% to $102.49 
    ** Brokerage Telsey Advisory Group upgrades stock to
"outperform" from "market perform", raises PT by $25 to $115
    ** Believes housing turnover activity to grow as market is
becoming conditioned to elevated mortgage rates
    ** However, sees lag between increased housing activity and
flooring demand growth
    ** Expects company's sales to remain soft in short term but
sees improved performance in 2025
    ** However, brokerage Wedbush downgrades stock to "neutral"
from "outperform", cuts PT by $10 to $100
    ** Sees shallow 2025 demand recovery as company has no new
product cycle and risk of mass deportations, tariffs; says stock
has elevated valuation 
    ** FND is expected to report Q4 results on February 20
    ** Seven of 26 brokerages rate stock "buy" or higher, 16
"hold" and three "sell"; with a median PT of $103.50- data
compiled by LSEG
    ** FND fell ~10.6% in 2024

 (Reporting by Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com;))