Upgrade Gives Insituform a Boost
The company's stock reaches a 52-week high.
Underground-pipe repair company
Insituform Technologies
(INSU) - Get Report
was sharply higher Wednesday after an analyst upgraded its stock, saying it warranted a buy rating.
Stifel Nicolaus & Co. analyst Jeffrey Beach previously had a hold rating on Insituform. He also boosted his profit estimate to $1.10 a share from $1 a share for 2006.
In recent trading, shares of Chesterfield, Mo.-based Insituform were gaining $2.86, or 13.8%, to $23.64, surpassing the 52-week high of $22.94. The stock climbed to $23.85 intraday, and volume was four times the daily average.
