- Raymond James analyst Bobby Griffin reiterated a Strong Buy rating on Tempur Sealy International Inc TPX and lowered the price target to $35 (44% upside) from $38.
- The analyst said Tempur Sealy is a "pretty house in an ugly neighborhood" right now, as demand trends in the bedding industry are weak on a y/y basis.
- However, Griffin said the company is performing well on a relative basis versus its peers.
- He added that on a longer-term basis, Tempur Sealy will benefit from its expanding DTC business, international expansion opportunities, new product introductions, and consistent cash flow generation.
- UBS analyst Atul Maheswari maintained a Buy rating on Tempur Sealy and lowered the price target to $35 from $45.
- Price Action: TPX shares are trading higher by 0.62% at $24.36 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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