BofA raised the firm’s price target on Tempur Sealy (TPX) to $79 from $73 and keeps a Buy rating on the shares. Following the company’s acquisition of Mattress Firm, the firm believes Tempur Sealy – which is being renamed “Somnigroup (SGI)” – offers “a rare combination of quality and resilience with upside torque,” the analyst tells investors. The firm thinks Tempur and Mattress Firm will benefit from competitor consolidation and retrenchment over the last several years, the analyst added. Separately, BofA is adding Tempur Sealy to the “US 1 List,” which is intended to represent a collection of the firm’s best investment ideas.
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Read More on TPX:
- Tempur Sealy added to ‘US 1 List’ at BofA
- Tempur Sealy’s Resilience and Strategic Acquisitions Drive Buy Rating Amidst Industry Challenges
- Tempur Sealy Could Net Over $100 Million Savings From Mattress Firm Deal
- Tempur Sealy price target raised to $74 from $70 at KeyBanc
- Tempur Sealy Becomes Somnigroup After Major Acquisition