UPDATE: KeyBanc Initiates Coverage on Mattress Firm Holding at Buy

According to KeyBanc, Mattress Firm Holding

coverage is initiated at Buy. KeyBanc said that it is initiating coverage on Mattress Firm Holding Corp. (MFRM-NASDAQ) with a BUY rating and a $28 price target. “As a result, we believe MFRM will be able to delivery 20%+ EPS growth over the next three to five years, warranting a 20x multiple on our 2013 estimate of $1.42. As such, we are initiating with a BUY rating and a $28 price target.” Mattress Firm Holding closed yesterday at $22.22.