- Piper Sandler analyst Peter Keith lowered the price target on Leggett & Platt Inc LEG to $38 from $43 (10% upside) and kept a Neutral rating on the shares.
- Keith noted Piper Sandler’s mattress retail survey for the month of March showed a 5% to 6% decline after a strong performance in February.
- The analyst specified that the weakness appears more concentrated at the low-end, but some retailers acknowledge some weakness at the high-end.
- In February, Leggett & Platt posted Q4 sales of $1.33 billion, beating the consensus of $1.29 billion.
- Price Action: LEG shares are trading lower by 3.14% at $34.55 on the last check Thursday.
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