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Fly News Breaks for October 3, 2018
TPX
Oct 3, 2018 | 05:49 EDT
UBS analyst Michael Lasser upgraded Tempur Sealy International to Neutral and raised his price target for the shares to $55 from $45. A potential Mattress Firm bankruptcy is likely to be positive for Tempur, Lasser tells investors in a research note. The analyst estimates that if Mattress Firm were to close 500-1,000 stores, Tempur could generate an incremental $25M in EBITDA for fiscal 2018. He believes the bankruptcy could help Tempur Sealy regain some market share it lost in the past 18 months.
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