Tempur-Pedic (TPX) PT Lifted to $75 at Piper Jaffray

Piper Jaffray analyst Peter Keith bumped his price target on Overweight-rated Tempur-Pedic (NYSE: TPX) to $75.00 (from $64.00) recent investor meetings this week with CFO Dale Williams and VP of IR Mark Rupe.

Keith commented, "After 2 years of stabilizing the business, TPX appears to have hit an inflection point in Q3 with recent investment activity causing an acceleration in sales and EPS growth.This, in turn, has put the company on a multi-year growth path. Key investments/drivers include: a highly successful Tempur line relaunch, a nascent effort to distribute Sealy in Europe, improved product management across the entire Tempur Sealy line that allows for market share gains, and a more rational competitive backdrop."

The firm is introducing 2016 EPS estimate of $4.15.

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 $59.09 yesterday.

You May Also Be Interested In

• Sherwin-Williams (SHW) PT Lowered to $380 at Loop Capital
• Fox Factory Holding (FOXF) PT Lowered to $45 at Stifel
• Hawaiian Holdings (HA) PT Lowered to $14 at Susquehanna