Leggett & Platt price target raised to $11 from $10 at Goldman Sachs

Goldman Sachs analyst Susan Maklari raised the firm’s price target on Leggett & Platt to $11 from $10 and keeps a Neutral rating on the shares. Leggett’s Q3 results and Q4 outlook reflect the benefit of strategic initiatives along with improvements in the cost structure over the last two years, the analyst tells investors in a research note. Goldman awaits greater evidence around the nascent recovery in bedding demand along with the potential impact in automotive as OEM supply chains see headwinds.