UPDATE: Goldman Sachs Initiates Tempur-Pedic International

Goldman Sachs is out with its report today on Tempur-Pedic International TPX, initiating TPX at Neutral. In its report, Goldman Sachs writes, "We initiate coverage of Tempur-Pedic, the premier specialty bedding maker, with a Neutral rating and a $66, six-month price target. We have a positive view on its long-term earnings trajectory, driven by market share gains within specialty bedding, a focus on margin-expanding cost cuts and share repurchases (31% of outstanding shares have been bought back since 2005). However, TPX is at a relatively mature point in its growth cycle and our analysis suggests that we should wait for a more favorable risk/reward to take advantage of the long-term positives." Shares of TPX closed Monday at $62.81, down 0.82% from Friday's close.