Gilford Raising Estimates On Tempur-Pedic International (TPX)

Gilford Securities is raising its 2011 and 2012 estimates on Tempur-Pedic International, Inc. TPX after the company reported better than expected earnings last night. It has a Hold rating and a $59.50 price target on shares. In a note to investors, Gilford writes, "Our 2011 revenue increases to $1.36B from $1.26B and EPS to $2.95 from $2.70. The company repurchased 1.32M shares in 1Q11 at an average price of $47.35." Shares of TPX are up $7.26 to $58.25, a gain of 14.24% this morning.