Tempur Pedic International "buy," estimates raised

07/21/06 - BB&T Capital Markets

NEW YORK, July 21 (newratings.com) - Analysts at BB&T Capital Markets maintain their "buy" rating on Tempur Pedic International Inc (TPX), while raising their estimates for the company. The 12-month target price is set to $19.

In a research note published this morning, the analysts mention that the company has reported its F2Q06 EPS ahead of the estimates and the consensus. Tempur Pedic International has reported its 2Q revenues ahead of the estimates, driven by improved unit trends in the mattress segment. The EPS estimates for FY06 and FY07 have been raised from $1.27 to $1.28 and from $1.40 to $1.43, respectively.