Loop Capital analyst Anthony Chukumba says he's encouraged by Tile Shop's better than expected Q2 results. The company's efforts to "get back to its knitting" appear to be paying dividends, Chukumba tells investors in a post-earnings research note. The analyst raised his price target for the shares to $9 from $8 but keeps a Hold rating on the name. He points out that Tile Shop's comps declined and operating margin deteriorated again year-over-year in the quarter. It remains too early to definitively conclude Tile Shop is back on the right track, Chukumba writes.