Leggett & Platt price target lowered to $24 from $26 at Truist

Truist analyst Keith Hughes lowered the firm’s price target on Leggett & Platt to $24 from $26 and keeps a Hold rating on the shares. The company’s Q3 results were “modestly” below expectations but guidance for Q4 was cut “substantially” as a recovery in residential furniture did not materialize, the analyst tells investors in a research note. Truist is also noting the continued weak mattress and other residential goods sales for Leggett & Platt.