From Alphastreet - Earnings Decoded. Market Intelligence Delivered · AlphaStreet Newsdesk · · 50s
Floor & Decor Shares Jump After Jefferies Holds
Floor & Decor Holdings jumps 6.6% as Jefferies maintains hold despite price target cuts.
In brief
Floor & Decor Holdings jumps 6.6% as Jefferies maintains hold despite price target cuts. Floor & Decor Holdings shares rose 6.6% after Jefferies kept its hold rating despite cutting price targets from $59 to $47. Originally reported by Alphastreet - Earnings Decoded. Market Intelligence Delivered.
Stock Surges
Floor & Decor Holdings surged 6.6% on Thursday despite analyst downgrades, closing at $48.09.
Price Target Cuts
Jefferies cut its price target from $59 to $47 while Wells Fargo lowered it from $55 to $45.
Market Reaction
The stock climbed on volume of 874,043 shares as investors shrugged off revised price targets.
What to Watch
Investors should monitor if Floor & Decor holds above $46 and watch for earnings guidance.
The bottom line
Floor & Decor Holdings shares rose 6.6% after Jefferies kept its hold rating despite cutting price targets from $59 to $47.
