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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
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