UPDATE: Raymond James Upgrades Interface (TILE) to Outperform (correction)

Raymond James analyst Samuel Darkatsh downgraded Interface (NASDAQ: TILE) from Market Perform to Outperform, PT $19.00.

The analyst comments "Our call is straightforward; business conditions have now clearly stabilized (four of the last five quarters have shown sequentially strengthening growth rates on a two-year stack), and the forward FCF yield is compelling at ~10% (which should be sustainable, as forward cap-ex needs are limited given plenty of slack capacity). Two potential catalysts include a pivot towards share repurchases within the next few quarters as well as a permanent CEO announcement. Worries generally revolve around end market uncertainty (~47% exposure to corporate office verticals) and timing around price-cost."

For an analyst ratings summary and ratings history on Interface click here. For more ratings news on Interface click here.

Shares of Interface closed at $15.99 yesterday.

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