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Fly News Breaks for May 8, 2017
TPX
May 8, 2017 | 07:08 EDT
SunTrust upgraded Tempur Sealy to Hold from Sell and raised its price target to $43 from $35 citing balanced risk/reward. Analyst Keith Hughes said the company registered flat Q1 sales with the Mattress Firm business down 37%, and now believes the worst case situation of inevitable revenue declines is manageable. The analyst also said investor's takeout scenarios for the company provide a valuation floor on shares.
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