Raymond James raised the firm’s price target on Somnigroup (SGI) to $67 from $62 and keeps a Strong Buy rating on the shares following the acquisition of Mattress Firm, which closed on February 5. While U.S. bedding industry demand is taking longer than anticipated to recover, Raymond James sees a compelling upside scenario for Somnigroup over the medium-term. The firm remains a buyer with the recent stock pullback.
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