Tempur Sealy To Face Earnings Risk From Cybersecurity Breach, Macroeconomic Trends, Says Analyst
Portfolio Pulse from Shivani Kumaresan
Wedbush analyst Seth Basham has reiterated an Outperform rating on Tempur Sealy International Inc (TPX) with a price target of $55, despite a recent cybersecurity breach and negative supplier read-through. The breach has caused a temporary interruption to operations, and while some critical IT systems are back online, operations are not fully normal. The analyst also mentioned Legget & Platt Inc (LEG) slashing its FY23 revenue growth guidance by 300 basis points due to macroeconomic volatility and low end-market visibility.
August 04, 2023 | 10:13 am
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Legget & Platt Inc has slashed its FY23 revenue growth guidance by 300 basis points due to continued macroeconomic volatility and low end-market visibility.
LEG's decision to slash its FY23 revenue growth guidance due to macroeconomic volatility and low end-market visibility could negatively impact investor sentiment and the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
Tempur Sealy International Inc faces potential earnings risk due to a recent cybersecurity breach and negative supplier read-through. Operations are not fully back to normal, which could impact the company's FY23 outlook.
The cybersecurity breach has caused a temporary interruption to TPX's operations. While some systems are back online, operations are not fully normal. This could lead to a cautious FY23 outlook, potentially impacting the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100