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Fly News Breaks for September 12, 2017
Sep 12, 2017 | 06:13 EDT
Piper Jaffray analyst Peter Keith says that while Select Comfort shares are down 14% since August 11, he's not aware of any near-term negative data points except for some recent negative social media posts and the lack of any new Sleep 360 product launched. Data points look "decent," with a Google Search analysis for Q3-to-date showing improvement from Q2 and negative social media posts moderating in recent weeks, Keith tells investors in a research note. He believes Select Comfort's average revenue per unit gains should continue as Sleep 360 beds drive a higher attach rate of adjustable bases. The analyst says he remains comfortable with his above-consensus Q3 comp and sales estimates for Select Comfort. Keith keeps an Overweight rating on the shares with a $38 price target.
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