Standpoint Research Upgrades Tempur-Pedic (TPX) to Buy; Attractive Valuation

Standpoint Research upgraded Tempur-Pedic (NYSE: TPX) from Hold to Buy with a price target of $65.00.

Analyst, Ronnie Moas, said, "Even though I think smart money may be selling the rally today, I do want to reinstate three names that came down hard since our downgrades and those names are Freeport-McMoran (NYSE: FCX), Symantec (Nasdaq: SYMC) and TPX. FCX was dropped at $42.56 on 28-Oct with a 30% gain and + 2000 bps versus the S&P-500...TPX was dropped at $66.14 on 21-Oct with a 21% gain and + 1000 bps versus the S&P-500...TPX is now trading < $52, 14X estimates for next year and 30% below its 52-week high."

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 $48.93 yesterday.

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