Piper Jaffray Reiterates Tempur-Pedic Rating and PT Ahead of Earnings Call
In a recent research report, Piper Jaffray has maintained an Overweight rating for Tempur-Pedic Int'l (NYSE: TPX) along with its $76 PT.
In the report, Piper Jaffray stated, “In what has proven to be a volatile quarter for the stock with investor concerns focused on competition, international exposure and potential new product launches, we believe risk/reward now highly favors the upside. Recent industry data and competitor results continue to show dominance of the premium/specialty segment within the mattress industry (where TPX is positioned). Furthermore, we note TPX has the opportunity to drive substantial gross margin expansion in 2012. All in, we expect at least inline results for Q4 and a favorable outlook on 2012 EPS.”
Tempur-Pedic Int'l closed Friday at $61.21.
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