UBS analyst Atul Maheswari keeps a Buy rating and $42 price target on Tempur Sealy while noting that investors should not "sleep on this" stock. The bedding category remained sluggish in Q4, but while the management cut its FY22 outlook when it reported Q3 results in November, trends were more stable in November-December period relative to October, the analyst tells investors in a research note. The firm adds that Tempur Sealy brands largely maintained or gained share at retail floors and also believes that Q3 was likely the low water mark level for the category with respect to unit declines.
Published first on TheFly
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