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Fly News Breaks for October 5, 2018
TPX
Oct 5, 2018 | 12:23 EDT
KeyBanc analyst Bradley Thomas sees this morning's announced Chapter 11 bankruptcy by Mattress Firm as a positive for Tempur Sealy. The news increases the likelihood of a re-partnership between the two companies, which would be a "major upside catalyst" for Tempur, Thomas tells investors in a research note. He believes both Mattress Firm and Tempur could benefit from a re-partnership, and that such an event could be a $2-plus earnings per share benefit to Tempur. The analyst reiterates an Overweight rating on the shares with a $75 price target. The stock in midday trading is down 3%, or $1.43, to $49.85.
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