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Downgrade Alert for Tempur-Pedic International (TPX)

By James Quinn

Tempur-Pedic International (NYSE:TPX) was downgraded from Buy to Neutral at Longbow today. The stock closed yesterday at $57.77 on volume of 14.8 million shares, above average daily volume of 1.5 million.

Tempur-Pedic International (NYSE:TPX) has potential upside of 43.7% based on a current price of $57.77 and analysts' consensus price target of $83.00. Tempur-Pedic International shares should first meet resistance at the 50-day moving average (MA) of $59.62 and find additional resistance at the 200-day MA of $68.49.

In the past 52 weeks, Tempur-Pedic International share prices have been bracketed by a low of $50.80 and a high of $82.61 and closed yesterday at $57.77, 14% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.5%.

Tempur-Pedic International Inc., through its primary subsidiary Tempur World, manufactures and markets foam mattresses, pillows, and miscellaneous products under the Tempur-Pedic and other brand names.

SmarTrend recommended that subscribers consider buying shares of Tempur-Pedic International on July 25th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $60.82. Since that recommendation, shares of Tempur-Pedic International have risen 22.4%. We continue to monitor TPX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades tempur-pedic international

Ticker(s): TPX