Floor & Decor Holdings, Inc. (FND) PT Raised to $131 at BofA Securities on Blowout Comps

BofA Securities analyst Elizabeth Suzuki raised the price target on Floor & Decor Holdings, Inc. (NYSE: FND) to $131.00 (from $120.00) after the company reported adj 1Q21 EPS of $0.65, above the consensus of $0.54. Same-store sales growth of +31.1% came in above the consensus +24.4%.

The analyst reiterated a Buy rating, stating "The momentum in comps continued from 4Q (+21.6%) and 3Q (+18.4%) after the severe pandemic-related decline of 20.8% in 2Q when stores were closed for part of the quarter. Given the easy comparison, next quarter will likely be FND’s strongest same-store sales quarter (we estimate a 55% comp in 2Q21). Comps had a strong exit rate in March that has continued into 2Q on a 2-year growth basis".

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