TPX - Mattress Firm Performance Looks Impressive As Tempur Sealy Works To Consummate Merger Says Analyst | Benzinga
Wedbush analyst Seth Basham reiterated an Outperform rating on the shares of Tempur Sealy International Inc (NYSE: TPX) with an unchanged price target of $50.
Mattress Firm's recent Q4 FY23 earnings suggest the retailer outperformed the industry on the topline while margins expansion accelerated sequentially, says the analyst.
Mattress Firm's sales of $1.18 billion increased 2.2% y/y, or down an estimated 5% y/y, excluding the benefit of an extra week in the quarter.
The analyst believes the sales was likely better than feared by investors given industry commentary that pointed to weaker-than-expected FY23 Q3 ...