Sleep Number price target raised to $12 from $10 at Wedbush

Wedbush raised the firm’s price target on Sleep Number to $12 from $10 and keeps a Neutral rating on the shares. The firm notes the company reported 2Q24 results that came in slightly worse than expected at the top line but beat expectations on adjusted EBITDA. The company reduced second half of the year demand guidance to flat to -low single digit vs. the prior of +low single digit expectation following softer-than-expected Q2 trends, Wedbush notes.