Piper Sandler analyst Peter Keith lowered the firm’s price target on Floor & Decor to $75 from $78 and keeps a Neutral rating on the shares. The firm notes Q3 posted an EPS beat, though comparable sales came in below estimates at -1.2%. Comparable sales and revenue guidance were also reduced at the high end, as comps are expected to remain negative in Q4, with quarter-to-date trends running -2% year-over-year, Piper adds.
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