As previously reported, William Blair upgraded Tempur Sealy (TPX) to Outperform from Market Perform. Management sounded “more positive than it has in a long time” at the recent Winter Furniture Market meeting, says the analyst, who views the company as “well positioned to capitalize on an industry inflection.” The firm sees “several tangible catalysts supporting continued market share gains over the next few years” and potential for outsized earnings growth on sales leverage and an “increasingly efficient cost structure,” the analyst added. This morning, Tempur Sealy announced it will change its name to Somnigroup International and ticker symbol to “SGI,” effective February 18, in connection with the closing of its acquisition of Mattress Firm.
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