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Fly News Breaks for May 31, 2016
TPX
May 31, 2016 | 08:59 EDT
After meeting with Tempur Sealy's management, KeyBanc is pleased with the new CEO's focus on margins and free cash flow and "de-emphasis" of sales and market share. The firm thinks that the company can benefit from the higher margins it obtains from online sales in the short-term. It believes that the company's opportunities from e-commerce outweigh the risks it poses over the next 6-12 months. The firm keeps an $80 price target and Overweight rating on the shares.
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