Shares of Tempur-Pedic (TPX) Tap New 52-wk High; Barclays Highlights Investor Day
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Price: $68.78 --0%
Rating Summary:
12 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
12 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Shares of Tempur-Pedic (NYSE: TPX) tapped a new 52-wk high and are trading at $77.67, up $3.15 (+4.23%). Yesterday, the company held Investor Day with Mark Sarvary, President and Chief Executive Officer and Dale Williams, Executive Vice President and Chief Financial Officer.
Barclays maintains an 'Equalweight' on Tempur-Pedic and raised its price target from $75 to $85.
Analyst, Robert S. Drbul, offered highlights from the meeting including, "Tempur outlined its new five-year plan, targeting $3.0 billion in revenues and $8.00 in EPS. In 2011, revenues totaled $1.4 billion. This growth plan assumes similar growth rates abroad and domestically to reach approximately $2.0 billion in North America and $1.0 billion internationally by 2016. The earnings projection is based on modest operating margin expansion and no share repurchases, although the company does intend to continue to return cash to shareholders."
"As momentum in the top line, opportunities from international growth and new product adoption give us comfort in our 2013 estimates, we are increasing our price target."
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 $74.55 yesterday.
Barclays maintains an 'Equalweight' on Tempur-Pedic and raised its price target from $75 to $85.
Analyst, Robert S. Drbul, offered highlights from the meeting including, "Tempur outlined its new five-year plan, targeting $3.0 billion in revenues and $8.00 in EPS. In 2011, revenues totaled $1.4 billion. This growth plan assumes similar growth rates abroad and domestically to reach approximately $2.0 billion in North America and $1.0 billion internationally by 2016. The earnings projection is based on modest operating margin expansion and no share repurchases, although the company does intend to continue to return cash to shareholders."
"As momentum in the top line, opportunities from international growth and new product adoption give us comfort in our 2013 estimates, we are increasing our price target."
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 $74.55 yesterday.
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