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Fly News Breaks for December 1, 2015
MFRM
Dec 1, 2015 | 07:02 EDT
Piper Jaffray analyst Peter Keith raised his price target for Mattress Firm to $55 following the announcement of the Sleepy's acquisition and positive pre-announcement of Q3. Following the acquisition, Mattress Firm will be the de facto leader in mattress retailing with greater than 20% market share, Keith tells investors in a research note. The analyst, however, has some initial concern regarding the amount of debt leverage being placed on the business. He keeps a Neutral rating on the stock.
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