Goldman Sachs raised the firm’s price target on Floor & Decor to $80 from $70 and keeps a Sell rating on the shares. Flowserve reported Q3 EPS above consensus estimates, though comparable store sales were down 1.2% year over year, the analyst tells investors in a research note. Floor & Decor comps are highly correlated to housing turnover, and higher mortgage rates will likely continue to weigh on housing turnover, causing the company’s same-store sales to remain pressured in Q4, Goldman says.
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