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Why This Tempur Sealy Analyst Is Bullish On Mattress Maker's 'Solid Growth Story'

Stock Markets Aug 11, 2022 18:11
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© Reuters. Why This Tempur Sealy Analyst Is Bullish On Mattress Maker's 'Solid Growth Story'
 
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Tempur Sealy International Inc (NYSE: TPX) is well positioned to generate above industry average growth due to its company-specific initiatives, according to Goldman Sachs (NYSE:GS).

The Tempur Sealy Analyst: Susan Maklari initiated coverage of Tempur Sealy with a Buy rating and $34 price target.

The Tempur Sealy Takeaways: The company is likely to continue generating industry-leading revenue growth, with a compound annual growth rate of 4% through 2024, Maklari said in the Thursday initiation note.

Check out other analyst stock ratings.

Tempur Sealy has invested in higher margin expansion opportunities, including “growing its more profitable direct-to-consumer channel faster than brick and mortar, launching successful new products across brands, and international ventures,” the analyst said.

Tempur Sealy could achieve 190 basis points of EBIT margin expansion between 2022 and 2024, she said.

“As Tempur positions itself as a competitive, full service provider of private label and branded products, we expect this could represent a $500-600mn opportunity. This, along with the positives from increased industry consolidation, should drive benefits over time.”

TPX Price Action: Shares of Tempur Sealy were trading 2.74% higher at $28.52 midday Thursday.

Latest Ratings for TPX

DateFirmActionFromTo
Feb 2022WedbushMaintainsOutperform
Feb 2022Raymond JamesMaintainsStrong Buy
Feb 2022KeybancMaintainsOverweight
View More Analyst Ratings for TPX

View the Latest Analyst Ratings

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Why This Tempur Sealy Analyst Is Bullish On Mattress Maker's 'Solid Growth Story'
 

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