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Fly News Breaks for August 23, 2018
TPX
Aug 23, 2018 | 07:05 EDT
As previously reported, KeyBanc analyst Bradley Thomas upgraded Tempur Sealy to Overweight from Sector Weight, with a $75 price target. The analyst is increasingly positive on the stock given likely changes ahead at Mattress Firm. Thomas expects the closure of about 1,000 Mattress Firm stores, a potential 48c EPS tailwind, as well as reduced competitive dynamics. Moreover, a re-partnership with Mattress Firm could add $2.50-plus to EPS, he contended.
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