Market Overview

UPDATE: KeyBanc Downgrades Select Comfort Corp. to Hold, Removes $30 PT

Share:
Related SCSS
Longbow Favors Tempur Sealy Among Mattress Stocks
Benzinga's Top Initiations

In a report published Wednesday, KeyBanc downgraded its rating on Select Comfort Corp. (NASDAQ: SCSS) from Buy to Hold, and removed its $30.00 price target.

KeyBanc noted, “Since we upgraded SCSS to BUY in August 2009, we have been positive on the Company (including naming it as one of our top picks in 2010, 2011, and 2012), supported by SCSS's opportunity to improve its proprietary product offering, its distribution network, and its advertising efficiency. On the positive side, we still believe SCSS offers a differentiated business model with numerous growth avenues, and we expect the recovery in the housing market will remain a tailwind. However, following recent meetings with senior management, members from retailers, and manufacturers across the industry, we expect concerns about competition to weigh on the multiple, and potentially earnings as well. As a result, we recommend investors look to BUY-rated MFRM and newly upgraded TPX as ways to best invest in the mattress sector.”

Select Comfort Corp. closed on Tuesday at $22.21.

Latest Ratings for SCSS

DateFirmActionFromTo
Mar 2016Longbow ResearchInitiates Coverage onNeutral
Feb 2016Stifel NicolausMaintainsBuy
Jan 2016WedbushUpgradesNeutralOutperform

View More Analyst Ratings for SCSS
View the Latest Analyst Ratings

Posted-In: KeyBancAnalyst Color Downgrades Analyst Ratings

 

Related Articles (SCSS)

View Comments and Join the Discussion!