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Fly News Breaks for November 26, 2019
PRPL
Nov 26, 2019 | 08:00 EDT
Raymond James analyst Bobby Griffin initiated coverage of Purple Innovation with an Outperform rating and $11 price target as he believes Purple's technology and manufacturing capabilities, combined with its omni-channel distribution, give it an opportunity to gain market share in the "highly competitive" mattress industry. Overall industry drivers remain positive heading into 2020 despite late cycle economic fears and Purple has "a long runway for future opportunistic organic growth," Griffin added.
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