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Fly News Breaks for November 4, 2019
TPX
Nov 4, 2019 | 07:52 EDT
SunTrust analyst Keith Hughes raised his price target on Tempur Sealy to $90 after its Q3 earnings beat and raised guidance in spite of the launch costs for Mattress Firm. The analyst cites the company's "very good" gross margins and better than expected sales in North America as well as "favorable" commodity costs expected for Q4. Hughes adds that the Sealy business has recovered with some stability at the very low end, though he also notes that the full impact of the new retail business "will not be known until 2020."
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