Standpoint Research Starts Tempur-Pedic (TPX) at Buy
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Price: $42.70 +0.61%
Rating Summary:
5 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 15 | New: 13
Rating Summary:
5 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 15 | New: 13
Trade TPX Now!
Standpoint Research initiates coverage on Tempur-Pedic (NYSE: TPX) with a Buy. PT $68.00.
The firm said, "The recent market correction has dragged TPX shares down from $75 to $53, creating an attractive entry point for investors with an 18-36 month time horizon. In our opinion fair value for TPX looking out to 2012-2013 is 17X $4.00 in EPS potential. TPX was on our short shopping list of names we were hoping would come down in a market slide. Our price target is $68 and that would represent a retracing of two-thirds ($15) the ($22) drop since July 27."
For more ratings news on Tempur-Pedic click here and for the rating history of Tempur-Pedic click here.
Shares of Tempur-Pedic closed at $54.20 yesterday, with a 52 week range of $25.56-$74.81.
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The firm said, "The recent market correction has dragged TPX shares down from $75 to $53, creating an attractive entry point for investors with an 18-36 month time horizon. In our opinion fair value for TPX looking out to 2012-2013 is 17X $4.00 in EPS potential. TPX was on our short shopping list of names we were hoping would come down in a market slide. Our price target is $68 and that would represent a retracing of two-thirds ($15) the ($22) drop since July 27."
For more ratings news on Tempur-Pedic click here and for the rating history of Tempur-Pedic click here.
Shares of Tempur-Pedic closed at $54.20 yesterday, with a 52 week range of $25.56-$74.81.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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