TD Cowen analyst Max Rakhlenko maintained a Hold rating on Floor & Decor Holdings today and set a price target of $80.00.
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Max Rakhlenko has given his Hold rating due to a combination of factors that suggest a balanced risk-reward scenario for Floor & Decor Holdings. Despite a slight increase in the price target, the recommendation remains neutral as the potential benefits from expected rate cuts and market share opportunities are offset by uncertainties. These uncertainties include the magnitude of the housing market rebound and the near-term visibility into comparable sales turnaround.
Moreover, while the flooring industry shows some signs of improvement, the trends remain generally soft. The company’s current valuation, which is only slightly below historical averages, also contributes to the Hold rating. Additionally, while there is speculation about potential acquisitions, the market’s reaction to such moves remains uncertain, especially given the company’s current focus on capital preservation.
In another report released on July 18, Barclays also maintained a Hold rating on the stock with a $78.00 price target.