Wedbush analyst Seth Basham notes that Mattress Firm has announced that its CEO, Steve Stagner, resigned. The analyst views this as a positive development for Tempur Sealy, as Stagner had a "rocky" relationship with the latter's senior management. With Stagner's resignation, the probability of Tempur Sealy rekindling its distribution relationship with Mattress Firm rises, Basham contends, adding that he estimates that a new agreement could be worth over $100M-plus to run-rate Tempur Sealy EBITDA, with launch costs partly offsetting near-term accretion, and the ramp in sales slower than what it would be if Tempur Sealy were able to get products in Mattress Firm stores before Memorial Day. The analyst reiterates an Outperform rating and $65 price target on Tempur Sealy shares.