Floor & Decor Holdings, Inc. (FND) PT Raised to $60 at Guggenheim

Guggenheim analyst Steven Forbes raised the price target on Floor & Decor Holdings, Inc. (NYSE: FND) to $60.00 (from $52.00) while maintaining a Buy rating.

The analyst commented, "We hosted a series of virtual meetings with a) EVP-CFO Trevor Lang, b) VP-IR Wayne Hood, and c) Senior Manager-IR Matt McConnell. Bottom line, although macro and housing uncertainty remain elevated, we believe FND's share gains are poised to accelerate given the combination of a superior value proposition (i.e., a large, in-stock assortment at everyday low prices supported by an integrated website experience) and industry leading micro-merchandising capabilities. In addition, we see limited (if any) risk to the company's unit growth profile (~20%) and long-term margin expansion opportunity (400+ basis points). As a result, we raise our PT to $60 (from $50) and reiterate our BUY."

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