Read Why Analysts Slashed Tempur Sealy Price Target Ahead Of Q2 Earnings

by Shivani Kumaresan, Benzinga Staff Writer

July 20, 2022 1:03 PM | 1 min read | Make a Comment

Raymond James analyst Bobby Griffin reiterated a Strong Buy rating on Tempur Sealy International Inc TPX and lowered the price target to $35 (44% upside) from $38.
The analyst said Tempur Sealy is a "pretty house in an ugly neighborhood" right now, as demand trends in the bedding industry are weak on a y/y basis.
However, Griffin said the company is performing well on a relative basis versus its peers.
He added that on a longer-term basis, Tempur Sealy will benefit from its expanding DTC business, international expansion opportunities, new product introductions, and consistent cash flow generation.
UBS analyst Atul Maheswari maintained a Buy rating on Tempur Sealy and lowered the price target to $35 from $45.
Price Action: TPX shares are trading higher by 0.62% at $24.36 on the last check Wednesday.