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FINWIRES

モルガン・スタンレーによると、フロア＆デコールの既存店売上高の伸びはマクロ経済環境によって抑制されている。

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-- モルガン・スタンレーは金曜日のレポートで、フロア＆デコール（FND）は依然としてマクロ経済の逆風と短期的な好材料の欠如に直面しており、これが既存店売上高のプラス成長への道のりを阻害するだろうと指摘した。 フロア＆デコールは4年連続で既存店売上高が減少しているが、売上高への圧力は主に住宅市場の低迷によるものであり、住宅市場が改善すれば「業界平均を上回る業績を上げる態勢が整っている」とモルガン・スタンレーのアナリストは述べている。 同社の市場シェアは高く、マクロ経済環境が改善すれば既存店売上高は中一桁台から高一桁台の成長に回復する可能性があるとアナリストは指摘した。 アナリストは、最近実施されたAlphaWiseの建設業者調査で、フロア＆デコールが過去4回の調査で床材購入先としての評価を高め、過去最高の42%に達したことを指摘した。 しかし、市場は予想以上に長期にわたる業界への圧力を織り込んでおり、2027年末まで既存店売上高がマイナスとなる可能性も含まれている、とレポートは指摘している。 モルガン・スタンレーは同社の株価レーティングを「イコールウェイト」に据え置き、目標株価を88ドルから56ドルに引き下げた。

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