Market Overview

Mattress Firm Bounces Up 3%; Citigroup Boosts Target

Share:
Related MFRM
Mid-Day Market Update: Qlik Technologies Surges Amid Potential Sale; VirtualScopics Shares Decline
Mid-Afternoon Market Update: US Stocks Gain; Sunedison Shares Tumble

Mattress Firm (NASDAQ: MFRM) bounced three percent Wednesday after a Citigroup analyst raised her target on the company 7.5 percent.

Kate McShane boosted her target price from $53.00 to $57.00, citing an improving industry outlook driven by high-end mattress innovations.

Same-store sales for the industry generally were up in the low- to mid-single digits on the recent holiday weekend, McShane said, citing discussion with industry experts.

However, McShane left her earnings forecast for Mattress Firm unchanged and well below the average Street view.

McShane sees 2014 profits of $1.66 per share, compared with the Wall Street consensus of $1.94. The average target price for the shares is $54.

Mattress Firm recently traded up 3.32 percent to $47.89.

Tempur Sealy International (NYSE: TPX) gained nearly two percent to $60.37, but Select Comfort (NASDAQ: SCSS) fell nearly one percent to $20.09.

Latest Ratings for MFRM

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

View More Analyst Ratings for MFRM
View the Latest Analyst Ratings

Posted-In: Citigroup Kate McShaneAnalyst Color Price Target Analyst Ratings

 

Related Articles (SCSS + MFRM)

View Comments and Join the Discussion!