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UPDATE: Piper Jaffray Raises PT to $2.20 on Sealy Post Acquisition Offer

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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.

Latest Ratings for ZZ

DateFirmActionFromTo
Oct 2012PiperJaffrayMaintainsNeutral
Aug 2012BarclaysInitiates Coverage onUnderweight

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Posted-In: Piper JaffrayAnalyst Color Price Target Intraday Update Analyst Ratings

 

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