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LEG

Leggett & Platt

$39.26

0.22 (0.56%)

, TPX

Tempur Sealy

$48.44

0.38 (0.79%)

11:09
10/12/18
10/12
11:09
10/12/18
11:09

U.S. investigating alleged dumping of Chinese mattresses, Reuters reports

The alleged dumping of China-made mattresses is being investigated by the U.S. following complaints from several U.S. manufacturers, including Leggett & Platt (LEG), Tempur Sealy (TPX) and others, Reuters reports. Reference Link

LEG

Leggett & Platt

$39.26

0.22 (0.56%)

TPX

Tempur Sealy

$48.44

0.38 (0.79%)

  • 26

    Oct

LEG Leggett & Platt
$39.26

0.22 (0.56%)

02/07/18
GABE
02/07/18
UPGRADE
GABE
Buy
Leggett & Platt upgraded to Buy from Hold at Gabelli
Pre-open, Gabelli analyst Justin Bergner upgraded Leggett & Platt to Buy with a $56 private market value. The analyst cites valuation and believes there is bottoming in bedding, with Leggett becoming a player in bed in the box.
05/01/18
RHCO
05/01/18
NO CHANGE
Target $48
RHCO
Buy
Leggett & Platt price target lowered to $48 from $55 at SunTrust
SunTrust analyst Keith Hughes lowered his price target on Leggett & Platt to $48 after its Q1 earnings miss, noting that low volumes and steel price inflation hurt results. While lagging price realization will hurt results in Q2, the analyst contends that margins can recover, starting with the recent declines in scrap metal prices. Hughes keeps his Buy rating on Leggett & Platt but acknowledges that margin recovery is likely to be pushed out a quarter from his prior forecasts.
05/30/18
STFL
05/30/18
UPGRADE
STFL
Buy
Leggett & Platt upgraded to Buy from Hold at Stifel
05/31/18
05/31/18
UPGRADE
Target $50

Buy
Leggett & Platt upgraded to Buy ahead of second half acceleration at Stifel
As previously reported, Stifel analyst John Baugh upgraded Leggett & Platt to Buy from Hold, stating that he sees its top line growth and margins nearing an inflection point. He sees the expected inflection, paired with a valuation that is below average historical levels, presenting an attractive point to enter Leggett & Platt shares, he tells investors. Baugh raised his price target on the stock to $50 from $48, adding that he thinks earnings growth should accelerate in the second half.
TPX Tempur Sealy
$48.44

0.38 (0.79%)

10/03/18
UBSW
10/03/18
UPGRADE
Target $55
UBSW
Neutral
Tempur Sealy upgraded to Neutral from Sell at UBS
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.
10/03/18
PIPR
10/03/18
NO CHANGE
Target $65
PIPR
Overweight
Mattress Firm report 'notable positive' for Tempur Sealy, says Piper Jaffray
The Reuters report last night that Mattress Firm is preparing to file bankruptcy as soon as this week is a "notable positive" for Tempur Sealy International, Piper Jaffray analyst Peter Keith tells investors in a research note. The analyst expects Mattress Firm will close a number of stores under a bankruptcy plan. Keith's prior analysis suggests Tempur could see incremental EBITDA of $100M from Mattress Firm store closures and reentering the company's stores. He believes the potential bankruptcy should limit Tempur share downside in the near term, and he sees potential for 80%-90% upside should reconciliation occur. Keith keeps an Overweight rating on the shares with a $65 price target.
10/03/18
10/03/18
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. Tempur Sealy (TPX) upgraded to Neutral from Sell at UBS with analyst Michael Lasser saying a potential Mattress Firm bankruptcy is likely to be positive for Tempur. 2. Stifel Financial (SF) upgraded to Outperform from Market Perform at JMP Securities with analyst Devin Ryan saying while he is not overly dismissive of the market's concerns, he believes some misconceptions exist and also thinks the stock is more than reflecting the worries, leaving the bar "incredibly low" now. 3. Wingstop (WING) upgraded to Buy from Neutral at Guggenheim with analyst Matthew DiFrisco saying he has increased confidence in Wingstop's ability to support mid-single digit same-store sales growth and double-digit expansion through 2025 following the meetings. 4. Intuit (INTU) upgraded to Outperform from In Line at Evercore ISI. 5. Michael Kors (KORS) upgraded to Buy from Neutral at Citi. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/05/18
KEYB
10/05/18
NO CHANGE
Target $75
KEYB
Overweight
Mattress Firm bankruptcy positive for Tempur Sealy, says KeyBanc
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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Nike

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