Wedbush Assumes, Upgrades Select Comfort (SCSS) to Outperform

Wedbush upgraded Select Comfort (NASDAQ: SCSS) from Neutral to Outperform with a price target of $40.00 in assumed coverage.

Analyst Seth Basham commented, "SCSS shares have had a strong run, up 70% in the past twelve months vs. a 12% rise in the S&P 500 index and 10% rise in the Russell 2000 index. For the stock to keep working, the company must continue to exceed expectations, in our view. We believe that will happen, and while we are not making a call into 1Q15 results Wednesday, April 22 AMC, we see more upside than downside risk, driven by accelerating unit and ASP comps. A solid outlook, attractive industry positioning, accelerating industry growth and what we view as a reasonable valuation lead us to assume coverage at OUTPERFORM (from NEUTRAL)."

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 $33.82 yesterday.

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