Barclays Takes More Conservative Tone on Tempur-Pedic (TPX); Cutting Price Target As Competitive Forces Change

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Barclays maintains an 'Equalweight' on Tempur-Pedic (NYSE: TPX) price target lowered from $85 to $63.

Analyst, Jessics Schoen, said, "We are taking a more conservative stance on valuation for the following reasons: the intensifying competitive environment for specialty mattresses, uncertainty around potential cannibalization presented by the Simplicity launch, and tough compares as a result of very strong industry growth in the last year, particularly in the specialty segment."

For an analyst ratings summary and ratings history on Tempur-Pedic click here. For more ratings news on Tempur-Pedic click here.

Shares of Tempur-Pedic closed at $56.71 yesterday, with a 52 week range of $46.53-$87.43.

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