UBS keeps Floor & Decor at Neutral and cuts price target to $54 from $60

what happened

Analysts at UBS left their rating on Floor & Decor Holdings at Neutral but reduced the price target on the stock to $54 from $60, a cut of 10%. According to TradingView, citing Benzinga, the new target implies a gain of about 13.5% from the October 30 closing price of $47.59.

Over the past 30 days, the five most recent analyst notes on the company were as follows: JP Morgan kept Neutral with a $57 target, TD Cowen kept Hold at $52, Truist Securities kept Buy at $65, Telsey Advisory Group downgraded to Market Perform at $50, and Evercore ISI kept In-Line at $55. Price targets across these notes range from $50 to $65.

why it matters

For the market this is a routine event, since a single bank adjusting its price target rarely moves a stock for long. The wider spread between analyst estimates, which here runs to $15, is the more telling detail.

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