Oppenheimer Reports On Tempur-Pedic's Pre-Announcement

According to Oppenheimer, Tempur-Pedic International TPX has pre-announced 1Q results which are better than expected showing strong momentum in the US and improvement internationally. Says Oppenheimer, in the report, “TPX is clearly executing well and remains a compelling secular growth story, although valuation appears to reflect this, particularly with the expected strength in the shares Friday; thus, we would continue to use pullbacks as an opportunity to accumulate shares.” Oppenheimer maintains a Perform rating on TPX. TPX closed at $50.99 yesterday.