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Fly News Breaks for March 12, 2018
TPX
Mar 12, 2018 | 06:12 EDT
Piper Jaffray analyst Peter Keith lowered his price target for Tempur Sealy to $66 saying he's "incrementally less positive" following his firm's February survey work. Consensus Q1 sales and EBITDA estimates look too high, the Tempur-Adapt launch appears to be "delayed somewhat," and Mattress Firm has gained share as of late with its aggressive Presidents' Day weekend promotions, Keith tells investors in a research note. The analyst lowered his Q1 estimates for Tempur but keeps an Overweight rating on the name.
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