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Wedbush Upgrades Select Comfort (SCSS) to Outperform

January 29, 2016 7:43 AM EST
Get Alerts SCSS Hot Sheet
Price: $32.50 --0%

Rating Summary:
    3 Buy, 7 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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Wedbush upgraded Select Comfort (NASDAQ: SCSS) from Neutral to Outperform with a price target of $23.00, on more favorable risk/reward.

Analyst Seth Basham commented, "Our proprietary store surveys following MLK weekend point to a positive inflection in sales trends, driven mainly by dissipating ERP implementation issues. We also believe that new marketing campaigns touting high satisfaction rankings by J.D. Power and Consumer Reports should help cushion possible negative brand perception from the ERP-related issues that led to spikes in customer dissatisfaction. With higher potential to achieve 2016 earnings guidance, negative sentiment and shares trading near historical trough valuation multiples, we are raising estimates and upgrading SCSS from NEUTRAL to OUTPERFORM."

For an analyst ratings summary and ratings history on Select Comfort click here. For more ratings news on Select Comfort click here.

Shares of Select Comfort closed at $18.81 yesterday.



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