Mattress Firm Holding Bounces 2%; Analyst Boosts Target

Mattress Firm Holding Corp.

bounced 2.6 percent Wednesday after an analyst raised her target on the company 7.5 percent. Citi's Kate McShane boosted her target price to $57, from $53, 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 a share, compared with the Wall Street consensus of $1.94. Average target price for the shares is $54. Mattress Firm traded up recently 2.7 percent to $47.59; Tempur Sealy International Inc.

gained nearly 2 percent to $60.37, but Select Comfort Corp.

fell nearly 1 percent to $20.10.