Somnigroup price target raised to $92 from $83 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Somnigroup (SGI) to $92 from $83 and keeps a Neutral rating on the shares. As mattress demand begins to recover, Somnigroup is positioned for relative outperformance driven by brand innovation, the ongoing Mattress Firm integration, and solid international growth, the analyst tells investors in a research note. While the setup for growth and margin expansion appears strong, near-term caution remains warranted until there is clearer evidence of sustained industry demand recovery, Goldman says.