Mattress Firm Performance Looks Impressive As Tempur Sealy Works To Consummate Merger, 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 $50. Mattress Firm's Q4 FY23 earnings showed a 2.2% year-over-year sales increase to $1.18 billion, suggesting market share gains and margin improvements. The analyst believes the potential merger with Mattress Firm offers significant value and sees a greater than 50% chance of completion. TPX is addressing antitrust concerns to achieve its goal of finalizing the merger by 2H24. TPX shares rose 3.39% to $48.49.
December 13, 2023 | 7:45 pm
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Wedbush analyst Seth Basham maintains an Outperform rating on TPX with a $50 price target, citing Mattress Firm's strong Q4 performance and potential merger benefits. TPX shares increased by 3.39%.
The positive outlook from the analyst, coupled with the strong Q4 performance of Mattress Firm, suggests a favorable short-term impact on TPX's stock price. The anticipation of merger benefits and the analyst's belief in the deal's completion further support a potential increase in TPX's stock price.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 100