Tempur Sealy price target raised to $66 from $62 at KeyBanc

KeyBanc raised the firm’s price target on Tempur Sealy (TPX) to $66 from $62 and keeps an Overweight rating on the shares. On Monday and Tuesday, the firm held meetings at the Las Vegas World Market, speaking with retailers, manufacturers, and suppliers within the mattress and furniture industries. Its conversations point to improving tends through Q4 and into January, post-election, within the bedding industry. KeyBanc comes away incrementally positive on Tempur Sealy and its ability to continue share gains from refreshed product, incremental distribution, and the potential Mattress Firm transaction.