In a report released today, Max Rakhlenko from TD Cowen maintained a Hold rating on Floor & Decor Holdings (FND – Research Report), with a price target of $78.00.
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Max Rakhlenko has given his Hold rating due to a combination of factors impacting Floor & Decor Holdings. The company is making significant strides in reducing its reliance on China, which is expected to lower its tariff rates. However, despite these efforts, there remains a broad range of potential outcomes, and there are concerns about the downside risks to future estimates.
Floor & Decor has adjusted its comparable sales outlook, reflecting a cautious approach given the current economic environment. The company faces potential demand pressure due to softer macroeconomic conditions, which could affect consumer spending and housing markets. Additionally, while the company has a competitive advantage in its sourcing and pricing strategies, the decision to cut store openings and the associated capital expenditures highlights the challenges in maintaining profitability amid decelerating revenue growth from new stores.
According to TipRanks, Rakhlenko is a 3-star analyst with an average return of 3.3% and a 48.97% success rate. Rakhlenko covers the Consumer Cyclical sector, focusing on stocks such as O’Reilly Auto, Planet Fitness, and OneSpaWorld Holdings.
In another report released yesterday, Wells Fargo also maintained a Hold rating on the stock with a $75.00 price target.
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