Tempur Sealy price target raised to $50 from $40 at Loop Capital

Loop Capital analyst Laura Champine raised the firm’s price target on Tempur Sealy to $50 from $40 and keeps a Hold rating on the shares. The firm is cutting its FY24 EPS view to $2.60 from $2.74 after the company’s Q4 earnings miss and initial FY24 outlook, but it also believes that Tempur Sealy’s new capacity in the U.S. and streamlined international operations should enhance long-term margin potential, the analyst tells investors in a research note.