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Tempur Sealy International Inc. Message Board

  • squeezetracker squeezetracker Aug 20, 2013 10:25 AM Flag

    Wake up Call

    BBY and JCP news is great... wait, even S companies can outperform expectations they are going bkr? LOL

    Meanwhile, TPX is a great company, has a fabulous new lineup following the merger, and now has the zjune Q margin issues associated with changing out the entire floor over to models behind them.

    Our PT of $60 into EOY remains well intact... about like GMCR getting to $40 last year (first published with those shares at $18 on the einhorn bs).

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    • Whose price target into eoy of $60 ---I don't understand; where did you get that, etc? tks

      • 1 Reply to ybdc
      • Last November we came back on this (on the way down) in the high $20s suggesting right here, at $25, that is was a gift and time to buy all one could spec. Our price target shared with lp was to $40+ within months and check out the chart and the board for our exit shortly thereafter (too early) at $42 on the revised guidance and strong Q report.

        After it recently dropped back to those levels following the tough guidance for margin and sell through on the floor restock they programmed for 2Q we waded back in. Now, on the heavy drop back into the $36-38 range, we have been buying back into a full allocation. Our new PT premised on a heavy haircut to the peak relative ebitda multiple seen in 2012, is for $60 by EOY. It may take another quarter beyond that, but unless the economy and consumer are going to head for the toilet again, TPX will lead the sector higher. We are not the only hedge fund pm that understand this dynamic... Friday you saw many pm pull the hedge shorts to get back to unhedged long for the ride higher that is coming. Watch as volume picks up over the next few weeks vs the often limp tape seen since the last cc.

 
TPX
57.05+0.26(+0.46%)Nov 28 1:02 PMEST

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