Wedbush Starts Mattress Firm Holding Corp. (MFRM) at Outperform; Superior Operator
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Price: $64.02 --0%
Rating Summary:
3 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wedbush initiates coverage on Mattress Firm Holding Corp. (NASDAQ: MFRM) with an Outperform. PT $44.00.
Analyst, Joan Storms, said, "We view Mattress Firm as a superior operator in the retail mattress industry. The company has developed a very professional approach to selling mattresses in a highly fragmented market, primarily due to a very experienced management team. The combination of an attractive store format carrying the best brands and superior customer service has resulted in strong relative market share and increased profitability, with more to come as the company approaches a “tipping point” in many markets. Currently, the company estimates it is the market leader in about 78% of its existing markets."
Storms also noted that Mattress Firm currently operates approx. 1,000 stores in 27 states, and believes the company can meet its goal of 2,500 stores in the next five years. Wedbush has established FY12 EPS estimate of $1.52 (vs. $1.50 consensus) and FY13 at $2.20 (vs. $2.15 consensus)
For an analyst ratings summary and ratings history on Mattress Firm Holding Corp. click here. For more ratings news on Mattress Firm Holding Corp. click here.
Shares of Mattress Firm Holding Corp. closed at $34.35 yesterday.
Analyst, Joan Storms, said, "We view Mattress Firm as a superior operator in the retail mattress industry. The company has developed a very professional approach to selling mattresses in a highly fragmented market, primarily due to a very experienced management team. The combination of an attractive store format carrying the best brands and superior customer service has resulted in strong relative market share and increased profitability, with more to come as the company approaches a “tipping point” in many markets. Currently, the company estimates it is the market leader in about 78% of its existing markets."
Storms also noted that Mattress Firm currently operates approx. 1,000 stores in 27 states, and believes the company can meet its goal of 2,500 stores in the next five years. Wedbush has established FY12 EPS estimate of $1.52 (vs. $1.50 consensus) and FY13 at $2.20 (vs. $2.15 consensus)
For an analyst ratings summary and ratings history on Mattress Firm Holding Corp. click here. For more ratings news on Mattress Firm Holding Corp. click here.
Shares of Mattress Firm Holding Corp. closed at $34.35 yesterday.
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