Ferro Shares Jump After Upgrade On Strong Outlook

Earlier this week Gabelli & Co. analyst Rob Felice took a more cautious approach to the Cleveland-based company's shares.

"On top of efforts to stabilize/improve earnings, we believe Ferro's focus over the next several quarters must be free cash flow generation, debt reduction and/or strategic alterations to its capital structure," he said.

Felice cut his rating to "Hold" from "Buy" and lowered his outlook for 2009 to a loss of 50 cents per share from a profit of 10 cents.

Analysts polled by Thomson Reuters expect, on average, a 2009 loss of 21 cents per share.

A Ferro representative was not immediately available for comment.