UPDATE: Piper Jaffray Raises PT to $2.20 on Sealy Post Acquisition Offer
Piper Jaffray reiterated its Neutral rating on Sealy (NYSE: ZZ) and raised its price target from $2 to $2.20.
Piper Jaffray noted, "We are updating our ZZ model for the Q3 announcement and increasing our price target to $2.20 from $2.00 to reflect the offer price from TPX. …Risks to achievement of price target [include] Macroeconomic conditions, high debt level, competition, adoption of new products, raw material costs and retail consolidation."
Sealy closed at $2.18 on Friday.
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