Truist raised the firm’s price target on Somnigroup (SGI) to $85 from $75 and keeps a Buy rating on the shares after its Q2 earnings beat. Mattress Firm product changes have increased EBITDA in the early integration, with the management also having commented that demand improved in the quarter with a very good July, the analyst tells investors in a research note.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SGI:
- Somnigroup price target raised to $91 from $84 at UBS
- Somnigroup price target raised to $80 from $77 at Piper Sandler
- Somnigroup International Reports Strong Q2 Growth
- Somnigroup announces $25M investment in Fullpower to acquire 15.6% stake
- Somnigroup raises FY25 adjusted EPS view to $2.40-$2.70 from $2.30-$2.65