Somnigroup price target raised to $115 from $105 at Truist

Truist raised the firm’s price target on Somnigroup (SGI) to $115 from $105 and keeps a Buy rating on the shares. The company’s Analyst Day highlighted some of the work done in the year since its acquisition of Mattress Firm, of which synergies have well exceeded the Street views, the analyst tells investors in a research note. The management also sees business in quarter somewhat positive with notably strong business at Tempur Sealy, the firm adds.