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TPX

Tempur Sealy

$58.18

2.11 (3.76%)

, CONN

Conn's

$31.50

0.05 (0.16%)

07:39
12/07/17
12/07
07:39
12/07/17
07:39

Loss of Conn's a new revenue headwind for Tempur Sealy, says KeyBanc

KeyBanc analyst Bradley Thomas says his channel checks suggest that Conn's (CONN) has dropped Tempur Sealy (TPX) as its exclusive supplier of mattresses, with Serta-Simmons taking its place. The analyst estimates the loss of Conn's could be a 2%-4% drag to Tempur Sealy North America revenue.

TPX

Tempur Sealy

$58.18

2.11 (3.76%)

CONN

Conn's

$31.50

0.05 (0.16%)

  • 07

    Dec

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    Dec

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    Dec

TPX Tempur Sealy
$58.18

2.11 (3.76%)

08/22/17
08/22/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Alibaba (BABA) upgraded to Overweight from Neutral by Atlantic Equities analyst James Cordwell, who said the company's Q1 report "clearly demonstrated" how Alibaba can leverage its scale to gain e-commerce share. The recent strong execution likely also builds confidence in the company's ability to execute on other long-term opportunities, such as international expansion, omnichannel retail, and the cloud. 2. VMware (VMW) upgraded to Buy from Hold at Deutsche Bank with analyst Karl Keirstead citing growing evidence that large enterprises are embracing a hybrid model, which reduces his view of the risk to VMware from the threat of adoption of the cloud and Amazon Web Services (AMZN). His recent checks indicate that VMware technology is proving more durable than he would have thought 12-18 months ago. 3. Estee Lauder (EL) upgraded to Buy from Hold at Argus with analyst John Staszak telling investors the company continues to benefit from strong demand for high-end beauty products. 4. Tempur Sealy (TPX) upgraded to Buy from Hold at Stifel. Analyst John Baugh said he's surprised how quickly the company has recovered from the loss of its deal with Mattress Firm, as Tempur Sealy's margins are exceeding expectations and its direct business is growing more quickly than expected. 5. 58.com (WUBA) upgraded to Buy from Hold at Deutsche Bank, with analyst Alvin Jiang saying the company's quarterly earnings proved the company's strong execution regardless of macro volatility. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/12/17
PIPR
10/12/17
NO CHANGE
PIPR
Mattress names weak after Piper finds slower growth for September
Piper Jaffray's monthly mattress survey for September, which includes a sampling of mattress retailers across the U.S. representing hundreds of stores, showed slower growth for September, analyst Peter Keith told investors in a research note last night. The survey continues a trend that started with Labor Day weekend and marks a deceleration from the "healthy trend" seen in May through August, Keith writes. He believes "weak" mattress units are the issue, with September showing the largest unit decline in his firm's survey year-to-date. The analyst suspects unit weakness is primarily at the low-end, noting that Tempur-Pedic (TPX) sales "remained healthy." Keith kept Overweight ratings on Tempur-Pedic, Select Comfort (SCSS) and Leggett & Platt (LEG). Mattress unit weakness at the low-end would be most unfavorable to Leggett & Platt, the analyst cautions. Shares of Tempur-Pedic and Select Comfort are both down 5% in early trading while Leggett & Platt is down 1%.
11/06/17
RHCO
11/06/17
NO CHANGE
Target $55
RHCO
Hold
Tempur Sealy price target lowered to $55 from $60 at SunTrust
SunTrust analyst Keith Hughes lowered his price target on Tempur Sealy to $55 and kept his Hold rating following Q3 earnings. Hughes says the 18% decline in stock price after the results was largely due to lower than expected non-Mattress sales and expects choppy results to continue in 2018 going into the complete relaunch of product next year. The analyst says the company will showcase all of its new products at the upcoming January trade show, which will be a "must see event for this industry".
12/06/17
STFL
12/06/17
NO CHANGE
STFL
Stifel says Steinhoff news may be good for Tempur Sealy, bad for Leggett & Platt
Stifel analyst John Baugh noted that Steinhoff shares are down more than 60% in Frankfurt after its CEO resigned amid an investigation into irregular accounting practices. He believes the news could benefit Tempur Sealy (TPX), a sales competitor to Steinhoff's Mattress Firm, and could also benefit Sleep Number (SNBR) to a lesser extent. Baugh also thinks this could be bad news for Leggett & Platt (LEG), which has Steinhoff as an important customer.
CONN Conn's
$31.50

0.05 (0.16%)

10/09/17
STFL
10/09/17
DOWNGRADE
STFL
Hold
Conn's downgraded to Hold from Buy at Stifel
Stifel analyst John Baugh downgraded Conn's to Hold and raised its price target to $30 from $26 due to the rapid increase in share price year-to-date and limited near-term catalysts.
10/18/17
KEYB
10/18/17
NO CHANGE
Target $42
KEYB
Overweight
Conn's price target raised to $42 from $24 at KeyBanc
KeyBanc analyst Bradley Thomas raised his price target for Conn's to $42 from $24 saying it remains a credit turnaround story with building momentum, and that it is evolving into one of recovery in Houston. While the Q3 outlook remains uncertain from the near-term impact of Harvey, the analyst believes investors should look through near-term noise and buy any weakness associated with Harvey. Thomas reiterates an Overweight rating on the shares.
10/19/17
RHCO
10/19/17
NO CHANGE
Target $33
RHCO
Buy
Conn's price target raised to $33 from $27 at SunTrust
SunTrust analyst David Magee raised his price target on Conn's to $33 to reflect the impact from expected hurricane rebuilding while also noting the rising charge-offs are only a moderate risk factor. The analyst also expects some improvement in SSS which had fallen about 15% in the first half. Magee maintains his Buy rating on Conn's.
11/27/17
KEYB
11/27/17
NO CHANGE
KEYB
Rapid erosion in physical stores may be abating, says KeyBanc
KeyBanc's research consumer team says that while online remains the key avenue for growth, the rapid erosion in physical store sales may be abating. The analyst noted that strong store checks reinforce their thesis that apparel is back, with the strongest traffic at Urban Outfitters (URBN) and lululemon (LULU). Meanwhile, Wal-Mart (WMT) was able to eschew wrist bands and had solid inventory of doorbusters, while Gap (GPS) saw strong traffic at Old Navy, they contend. Additionally, KeyBanc's team says its channel checks suggest Best Buy (BBY) continues to gain share and drove healthy traffic, while Bed Bath & Beyond (BBBY) offered slightly more aggressive, but still uninspiring, undifferentiated promotions. Moreover, they believe Conn's (CONN) maintains momentum with its credit offering, credit improvement story, and the recovery in the Hurricane Harvey impacted markets. Checks also revealed solid Beauty positioning, with Ulta Beauty (ULTA) as a winner with strong holiday positioning and good traffic on Thursday/Friday, the analysts added.

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General Electric

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BAK

Braskem

$26.03

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