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Piper Jaffray Reiterates Overweight, $45 PT on Mattress Firm on Solid Q1 Print

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Piper Jaffray maintains its Overweight rating and $45 price target on Mattress Firm (NASDAQ: MFRM) on strong execution and fundamentals.

Piper Jaffray comments, "We are maintaining our Overweight rating and $45 price target on MFRM off the solid Q1 print. We would take advantage of any near-term weakness in the stock price surrounding fears that guidance is below estimates. Importantly, sales at MFRM through Memorial Day weekend are trending inline with company expectations. Also, the Q1 comp at 16.1% accelerated materially on a 2- and 3-year basis, unit and ASP comp are both trending near +8%, and the company is seeing no sign of price deflation within categories."

MFRM closed at $35.30 on Tuesday.

Latest Ratings for MFRM

DateFirmActionFromTo
Mar 2016CitigroupMaintainsNeutral
Mar 2016SunTrust Robinson HumphreyDowngradesBuyNeutral
Mar 2016Longbow ResearchInitiates Coverage onNeutral

View More Analyst Ratings for MFRM
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Posted-In: Piper JaffrayAnalyst Color Price Target Reiteration Intraday Update Analyst Ratings

 

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