Truist raised the firm’s price target on Tempur Sealy (TPX) to $72 from $69 and keeps a Buy rating on the shares. The company’s approved acquisition of Mattress Firm is accretive by 5%-10%, with the stated $100M of synergies on the roughly $1.2B EBITDA base, and these synergies could double in the future, the analyst tells investors in a research note.
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Read More on TPX:
- Wedbush upgrades Tempur after FTC denied of blocking merger
- FTC denied injunction to halt closing of Tempur Sealy deal for Mattress Firm
- Tempur Sealy price target raised to $78 from $67 at UBS
- Tempur Sealy upgraded to Outperform from Neutral at Wedbush
- Tempur Sealy price target raised to $76 from $65 at Piper Sandler