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Strategies & Market Trends : The New Economy and its Winners

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From: Bill Harmond

7/25/2017 3:34:05 PM

of 57684

24-Jul-17 10:04 ET

In Play

Floor & Decor upgrade details -- to Outperform at Wedbush ; tgt $45 (37.60 +0.20) : Wedbush upgrades FND to Outperform from Neutral and sets target price at $45. FND's recent stock price pullback associated with a secondary offering provides an attractive entry point for this best-in-class retailer. FND's rare combination of double-digit comps, 20% long-term store growth, and major margin expansion potential without significant threat from the online channel deserves a premium valuation, in firm's view. Firm's "blue sky" valuation analysis points to $60 per share, a level that could be reached if performance remains top-notch and growth-starved investors increasingly believe FND can reach its full potential.

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