UPDATE: Stifel Nicolaus Raised PT to $41 on Select Comfort on Strong Fundamentals
Stifel Nicolaus reiterated its Buy rating on Select Comfort (NASDAQ: SCSS) and increased its price target from $35 to $41.
Stifel Nicolaus commented, "We believe that Select Comfort's business remains quite strong. We have written extensively in the past about the keys that drive Select's business and how they are not necessarily tied to overall industry trends. The key drivers include: a) mall-to-off mall store locations where practical b) changes in advertising messaging and distribution c) product innovation d) growth of accessories including adjustable bed frames/pillow/sheets e) improved overall customer store experience. We believe the company continues to execute effectively on this multi-pronged approach."
Select Comfort closed at $33.12 on Friday.
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