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Fly News Breaks for April 19, 2017
TPX
Apr 19, 2017 | 05:47 EDT
Raymond James analyst Budd Bugatch upgraded Tempur Sealy to Strong Buy from Outperform and maintained its $53 price target saying shares have sold off sharply recently with the only news being lawsuits. Bugatch remains alone with his positive rating and said downside risk has compressed to 24% while upside potential has widened to 70%. The analyst expects Q2 to be the weakest quarter of the year as it will be the first period without Mattress Firm, but he believes this is already priced into shares.
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