UPDATE: KeyBanc Initiates Coverage on Mattress Firm Holding at Buy
According to KeyBanc, Mattress Firm Holding (NASDAQ: MFRM) 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.
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