UPDATE: Wedbush Reiterates Outperform Rating, Raises PT for Select Comfort
In a report released earlier today, Wedbush Securities Inc. reiterated its Outperform rating for Select Comfort Corporation (NASDAQ: SCSS), but raised its price target from $36 to $39.
Wedbush went on to say “Given the backdrop of continued secular growth trends in the specialty mattress industry, SCSS is the clear market leader of air chamber mattress technology. We believe the company has significant market share gain opportunity as it continues to raise brand awareness through a successful marketing program emphasizing personalized comfort and unique product as well as a return to new square footage growth with successful off-mall stores. These initiatives are driving increased store productivity and driving cash flow with its attractive model.”
Select Comfort Corporation closed yesterday at $33.58.
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