Floor & Decor price target raised to $119 from $95 at Piper Sandler

Piper Sandler raised the firm’s price target on Floor & Decor to $119 from $95 and keeps a Neutral rating on the shares. The firm notes cash-out refinance activity is starting to show solid improvement with the recent drop in the 30-year mortgage rate, but still has significant potential for further improvement in the months ahead. Big ticket spending has seen notable weakness in home improvement in 2024, but now appears poised for significant improvement in 2025 with a continued decline in the 30-year mortgage rate, Piper argues.