UPDATE: Jefferies Starts Casper Sleep inc. (CSPR) at Buy

(updating comment)

Jefferies analyst Randal Konik initiates coverage on Casper Sleep inc. (NYSE: CSPR) with a Buy rating and a price target of $19.00.

The analyst comments "Casper is a strong and disruptive brand poised to take significant share in the large and growing sleep economy. High gross margins are indicative of pricing power as consumers trust the brand and value its authenticity, while expenses are set to lever over time as channels of distribution shift and marketing spend becomes increasingly more efficient. As a result, the path to profits is clear and makes current valuation attractive, in our view."

For an analyst ratings summary and ratings history on Casper Sleep inc. click here. For more ratings news on Casper Sleep inc. click here.

Shares of Casper Sleep inc. closed at $9.02 yesterday.

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