Analyst Sticks His Neck Out, Upgrades Tempur-Pedic (TPX) to Buy Following FY12 Warning

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Following at least four downgrades and a whopping 49 percent decline since Tempur-Pedic (NYSE: TPX) issued a FY12 warning on Wednesday morning, one analyst is finally defending the stock. Hilliard Lyons' Joel Havard just issued a mid-day upgrade, moving the stock from Long-Term Buy to Buy. The analyst adjusted his price target from $70 to $35.

Investors are buying the recent downside Friday. About midway through the trade session, Tempur-Pedic shares are up 5.7 percent to $23.66.

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

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