In a report released yesterday, Rafe Jadrosich from Bank of America Securities maintained a Buy rating on Somnigroup International (SGI – Research Report), with a price target of $79.00.
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Rafe Jadrosich has given his Buy rating due to a combination of factors including Somnigroup International’s strategic market positioning and growth prospects. Despite a challenging start to 2025 with fluctuating demand, the company has shown resilience with its pricing strategies and market share gains, particularly through its Tempur-Pedic hybrid beds and the relaunch of Sealy products.
The expert insights from Mattress Direct indicate a positive outlook for the latter half of the year, with expectations of a return to growth driven by pent-up demand and favorable comparisons. Additionally, increased advertising investments by manufacturers and consistent strategies by key retailers like Mattress Firm further support the potential for improved performance in the coming months.
SGI’s price has also changed moderately for the past six months – from $50.140 to $62.190, which is a 24.03% increase.