The Reuters report last night that Mattress Firm is preparing to file bankruptcy as soon as this week is a "notable positive" for Tempur Sealy International, Piper Jaffray analyst Peter Keith tells investors in a research note. The analyst expects Mattress Firm will close a number of stores under a bankruptcy plan. Keith's prior analysis suggests Tempur could see incremental EBITDA of $100M from Mattress Firm store closures and reentering the company's stores. He believes the potential bankruptcy should limit Tempur share downside in the near term, and he sees potential for 80%-90% upside should reconciliation occur. Keith keeps an Overweight rating on the shares with a $65 price target.