Goldman Sachs downgrades Floor & Decor amid housing market pressure

Investing.com

01-30

Investing.com -- Goldman Sachs downgraded Floor&Decor Holdings (NYSE:FND) to "Sell" while maintaining a $79 price target, as it expects the housing market to remain under pressure in 2025 due to elevated mortgage rates and sluggish home turnover.

The brokerage noted that Floor&Decor’s sales remain closely tied to housing turnover, limiting near-term upside. Shares of FND have underperformed peers since Goldman downgraded the stock to "Neutral" in mid-2022, rising 42% compared to a 55% gain for the S&P 500. Goldman Sachs sees 23% downside from current levels, significantly more than the 3% average downside risk across its coverage.

While Goldman remains cautious on flooring, it sees opportunities in home furnishings, amid improved industry trends and product innovation. The firm upgraded RH (NYSE:RH) to "Neutral" from "Sell" with a $374 price target and raised its target for Neutral-rated Williams-Sonoma (NYSE:WSM) to $224.

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Shares of FND have underperformed peers since Goldman downgraded the stock to \"Neutral\" in mid-2022, rising 42% compared to a 55% gain for the S&P 500. Goldman Sachs sees 23% downside from current levels, significantly more than the 3% average downside risk across its coverage.While Goldman remains cautious on flooring, it sees opportunities in home furnishings, amid improved industry trends and product innovation. The firm upgraded RH  to \"Neutral\" from \"Sell\" with a $374 price target and raised its target for Neutral-rated Williams-Sonoma  to $224.Goldman Sachs upgrades RH on improved execution, demand trends. Stocks rise as 'Magnificent Seve","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["rate"],"viewcount":null,"language":"en","relate_stocks":{"FND":"Floor & Decor Holdings Inc."},"translate_title":"由于房地产市场压力，高盛下调地板和装饰评级","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FND":0.9},"content_text":"Investing.com -- Goldman Sachs downgraded Floor&Decor Holdings (NYSE:FND) to \"Sell\" while maintaining a $79 price target, as it expects the housing market to remain under pressure in 2025 due to elevated mortgage rates and sluggish home turnover.\nThe brokerage noted that Floor&Decor’s sales remain closely tied to housing turnover, limiting near-term upside. Shares of FND have underperformed peers since Goldman downgraded the stock to \"Neutral\" in mid-2022, rising 42% compared to a 55% gain for the S&P 500. Goldman Sachs sees 23% downside from current levels, significantly more than the 3% average downside risk across its coverage.\nWhile Goldman remains cautious on flooring, it sees opportunities in home furnishings, amid improved industry trends and product innovation. The firm upgraded RH (NYSE:RH) to \"Neutral\" from \"Sell\" with a $374 price target and raised its target for Neutral-rated Williams-Sonoma (NYSE:WSM) to $224.\nRelated Articles\nGoldman Sachs upgrades RH on improved execution, demand trends\nStocks rise as 'Magnificent Seven' earnings land; gold nears record","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"code":"91000000","status":"200"}}}