Wedbush Morgan Reiterates a 'Buy' on Tempur-Pedic International (TPX); Positive Long-Term Outlook
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Wedbush Morgan reiterates a 'Buy' on Tempur-Pedic International (NYSE: TPX). Price target increased by $1 to $13.
Wedbush analyst says, "The company is in the process of implementing three major initiatives to improve future sales and profitability, including: 1) improving effectiveness with retail customers through streamlining its distribution network, which should result in better service at a lower cost, 2) broadening assortment of products to appeal to customers not currently being served, and 3) improving gross margins through easing commodity costs, a focused effort on the direct business to at least stabilize it in the near-term and grow it longer-term, drive manufacturing efficiencies through the plants, and research ways to produce quality products with more efficient chemicals. Aside from these margin opportunities, the company has plans to drive higher sales per door through more focus on building relationships with existing retailers versus opening new doors in the near-term. Longer-term, we believe there is still good organic growth potential in both the U.S. and international markets."
To see more analyst ratings on TPX Click Here.
Tempur-Pedic International Inc. (Tempur-Pedic International) is a manufacturer, marketer and distributor of mattresses and pillows.
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