Piper Sandler analyst Peter Keith upgraded Tempur Sealy to Overweight from Neutral with a price target of $61, up from $41. Tempur has become a dominant operator within the mattress industry, with a multi-year growth outlook that is becoming highly attractive to long-term investors, the analyst tells investors in a research note. The firm says industry demand is trending toward stabilization and could see strong growth over the next two years given unit demand is at 2016/2017 levels. The company is entering 2024 with its strongest product line-up in years, which should provide sales benefits through 2025, adds Piper.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on TPX:
- The hardlines and grocery retail stocks to own in 2024, according to UBS
- Tempur Sealy price target raised to $57.50 from $48 at BofA
- Tempur Sealy price target raised by $8 at KeyBanc, here’s why
- Tempur Sealy price target raised to $56 from $48 at KeyBanc
- Tempur Sealy certifies substantial compliance with FTC for Mattress Firm pact
